A softer-than-expected U.S. inflation report for September boosted market optimism, with traders now betting the Federal Reserve will cut rates at its upcoming October and December meetings.

Major indexes, including the S&P 500, Nasdaq, and Dow, rose about 2% for the week, aided by strong corporate earnings, with 87% of companies beating expectations.

Concerns remain over President Trump’s tariffs, such as a new 10% tariff on Canada, which could drive prices higher despite September’s headline CPI rising only slightly to 3%, CNBC has reported.

Analysts caution that with key economic data like the jobs report unavailable due to the government shutdown, the market’s gains may rest on uncertain footing.