What’s Next for Markets: Key Stocks and Data to Watch on Friday

​Inflation Data Takes the Spotlight
Investors are gearing up for fresh inflation data Friday morning — one of the few economic reports still arriving despite the ongoing government shutdown. The Consumer Price Index (CPI) for September will drop at 8:30 a.m. ET, and markets are watching closely. Economists expect prices to climb 0.4% month over month and 3.1% year over year.

Bond yields have held steady ahead of the release, with the 10-year Treasury at 4% and the 2-year at 3.49%. Meanwhile, corporate bond ETFs such as HYG and FCOR are yielding 5.7% and 4.35%, respectively — a sign investors are still demanding solid returns for taking on risk.

Earnings Buzz: P&G and Market Momentum
Procter & Gamble takes center stage as it reports quarterly results Friday morning on CNBC’s “Squawk Box.” The consumer giant’s stock has been lagging, down 4% since its last report and still 16% below its late-2024 peak. Investors will be looking for any signs of a rebound in household spending.

The S&P 500, meanwhile, remains on a strong run — now just 0.39% from a record high. It has logged 123 consecutive closes above its 50-day moving average, the longest stretch since 2011. The index is up 1.65% this week alone, keeping optimism alive as earnings season deepens.

Commodities and Corporate Movers
Gold has surged nearly 4% this week to $4,143, up a stunning 59% year to date, as investors hedge against uncertainty. Aluminum also hit its highest level since May 2022, climbing 20% in six months. Strong results from Alcoa, which jumped 13%, and Kaiser Aluminum, up 20%, fueled the rally. Alcoa noted that rising delivery fees on its Canadian-made aluminum more than offset tariff costs.

In the casino and leisure space, Las Vegas Sands surged 12% after better-than-expected results, pushing the stock near a 52-week high. Bally’s gained 7%, and Churchill Downs climbed 8%, adding fresh excitement to gaming stocks.

Tech Watch: Zoom’s Comeback Play
Zoom Video Communications is quietly staging a rebound. CNBC contributor Josh Brown revealed he’s buying back into the stock, citing the company’s “edge in innovation” and expanding tech pipeline. He believes Zoom’s upcoming user-facing tools could reignite growth, saying, “If they can show momentum, this could be a $100 stock in a blink.”

Shares closed at $82.79, up about 1% for the day — still well below its pandemic-era peak near $470, but far from its 2023 lows. Traders are watching whether this new bullish sentiment will stick as the company pivots beyond video conferencing.

The Takeaway
​With inflation data, earnings from blue-chip giants, and commodity rallies all colliding, Friday’s session is shaping up to be a test of market resilience. Between rising gold prices, rebounding industrials, and a potential tech revival, traders will have plenty to digest as Wall Street wraps another volatile week.