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Nasdaq Futures Near Highs: Is the AI Trade Broadening Ahead of CPI?

Nasdaq Futures Near Highs: Is the AI Trade Broadening Ahead of CPI?

Posted October 22, 2025 at 10:00 am

Jim Iuorio
CME Group

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The Nasdaq-100 futures market rallied, breaking a week-long consolidation pattern and trading near all-time highs. The surge is attributed to a shift toward a more dovish Federal Reserve outlook and continued enthusiasm for artificial intelligence (AI). The AI trade is broadening beyond established leaders like Nvidia and Microsoft, with stocks such as AMD and Micron carrying the momentum. This rotation within the sector mirrors the strength seen in hybrid metals like Silver and Platinum futures, as traders seek the next breakout names. The next significant catalyst for the market will be the delayed CPI report on October 24th. Analysts anticipate inflation to rise to 3.1% year-over-year, and a hotter-than-expected print could quickly impact the current market expectation for continued Fed easing, particularly for rate-sensitive indexes like the Nasdaq-100 and the Russell. Insights from Jim Iuorio. https://www.cmegroup.com/markets/equi…

Originally Posted October 21, 2025

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