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Happy Thursday! Do you guys want the good news or bad news first? Let’s start with the bad and get it out of the way: inflation data came in hotter than expected for September, driving stocks lower ahead of today’s open. Now the good news: Hurricane Milton hasn’t been as bad as anticipated, slowing down to a category 1 storm today. 

—Aaron Bry

Plus, if you’re looking to take your options trading to the next level, you need to check out today’s partner.

MARKET SNAPSHOT

Yesterday: The markets ripped higher and made new all-time highs ahead of this morning’s inflation report. $NCLH was a notable gainer as the cruise stocks continued to show strength.

On Our Radar: CPI data hit the tape this morning, along with earnings from Domino’s Pizza and Delta Airlines. Big bank stocks will report earnings tomorrow morning, in addition to more inflation data through PPI.

TOP STORY

September Inflation Hotter Than Expected, Jobless Claims Spike The Most In Over A Year

What Happened: The U.S. inflation rate extended its decline in September for the sixth consecutive month, though the pace was slower than economists had anticipated, and core inflation saw an unexpected rise.

So: At the same time, the latest jobless claims report revealed the largest weekly increase since July 2023, signaling a setback for the labor market following strong September data and adding complexity to the outlook for interest rates. Here’s how the market is reacting to the numbers.

PRESENTED BY CBOE

FIVE ZINGERS

Take It To The Bank: Big banks like JP Morgan and Wells Fargo are gearing up to report earnings. But which one has the better setup into the reports?

Just Do It: Thinking about buying Nike stock? Here’s why an analyst at Wolfe Research is saying ‘Just Do It’.

Cloudy Skies: But no meatballs in sight. Delta Airlines reported earnings this morning, and things could be a little turbulent for one of the leading airlines.

Cramer’s Call: Jim Cramer’s latest picks include this social media stock and a potentially sneaky AI play.

Your Chance At $30k Risk-Free: Benzinga's World Championship of Trading is about to take off, and all you have to do is sign up and paper trade for your chance at the prizes.

ONE FOR THE ROAD

Hurricane Milton Knocks Out Power For Over 2M In Florida, NextEra Energy, Duke Energy, And Tampa Electric Report Major Outages

Basically: Hurricane Milton wreaked havoc across Florida on Wednesday night, causing widespread power outages as it made landfall near Siesta Key in Sarasota County before barreling through the central part of the state.

What Happened: Over 2 million residents were left without power as the storm’s winds and heavy rains swept across the region. But, some stocks are actually trading higher as the storm doesn’t appear to be quite as bad as some thought.

PRESENTED BY CBOE

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