On Friday, October 24th, local time, data released before the U.S. market open showed that the U.S. September CPI increased by 3% year-over-year and 0.3% month-over-month, slightly lower than the economists' expectations of 3.1% and 0.4%. The core CPI, excluding food and energy, increased by 3% year-over-year and 0.2% month-over-month, also below market expectations of 3.1% and 0.3%.

Due to the mild inflation data, the market is betting on the Federal Reserve continuing to cut interest rates. The CME Group's "FedWatch Tool" shows that the market expects a 96.7% probability of a 25-basis-point rate cut by the Fed at next week's meeting, along with another 25-basis-point cut in December.

The three major U.S. stock indices all rose, setting new all-time closing highs. As of the close, the Dow Jones gained 1.01% to 47,207.12 points; the Nasdaq gained 1.15% to 23,204.87 points; and the S&P 500 gained 0.79% to 6,791.69 points. For the week, the three major indices all recorded gains of approximately 2%.

Large technology stocks generally advanced: Nvidia rose 2.25%, Microsoft rose 0.59%, Apple rose 1.25%, Google rose 2.70%, Amazon rose 1.41%, Meta rose 0.59%, AMD rose 7.63%, Oracle rose 1.16%, while Tesla fell 3.40%.

The Nasdaq Golden Dragon China Index closed up 0.27%, accumulating a 2.40% gain for the week. Most popular Chinese concept stocks rose: Alibaba rose 1.63%, JD.com rose 0.03%, Pinduoduo rose 0.50%, NIO rose 0.15%, XPeng Motors rose 0.70%, Bilibili rose 1.76%, Baidu rose 1.89%, Pony.ai rose 3.07%, WeRide rose 5.14%.

Gold and silver edged lower on Friday. Spot gold ended its nine-week winning streak, pulling back this week. Spot gold fell over 3% for the week, while COMEX gold fell over 2% for the week. Spot silver fell over 6% for the week, while COMEX silver fell over 3% for the week.