“The market was relieved because there were growing expectations of an unexpected rise in inflation,” said Eric Sterner, chief investment officer at Apollon Wealth Management, which manages more than $9 billion in assets in Mount Pleasant , in South Carolina. Instead, the October CPI report. met expectations.

Referring to new US President Donald Trump, Sterner added that most stock investors are “ignoring the risks of tariffs and an increase in the deficit because we know Trump is making bold statements, but we don’t know what bold statements will become real policies.”