Dow Jones Industrial Average taps fresh record after US PPI inflation cools in September

• The Dow Jones climbed into an all-time peak on Friday.
• US PPI figures showed September producer-level inflation stayed flat overall.
• Upbeat bank earnings helped to further bolster equities.

The Dow Jones Industrial Average (DJIA) rose over 400 points bottom-to-top on Friday, bolstered into a fresh record high of 42,837 after US Producer Price Index (PPI) inflation figures cooled in September. Cooling producer-level inflation plus upbeat bank earnings lifted equities across the board as the Dow Jones heads into a fifth straight winning week.

US producer prices flattened in September, cooling to a flat 0.0% MoM compared to the expected 0.1% and August’s 0.2%. Despite the cool-off in the monthly figure, September’s YoY PPI print chilled less than expected, printing at 1.8% versus the expected 1.6%, but still came in under August’s revised print of 1.9%.