The Ibex 35 exceeds 15,800 points and reaches its highest level since 2007 after the moderation of the CPI in the United States

The Ibex 35 ended the week with a rise of 1.67%, pushing up to 15,861.5 integers and at maximums since December 2007. Only in this Friday’s session it has risen 0.44%. The Madrid selective, which during the previous four days had recovered the level of 15,800 without success, has already managed to finish this Friday at 15,861.5 points, spurred by a better than expected CPI data in the US and the consequent increases on Wall Street.

Specifically, Inflation in the United States stood at 3% year-on-year in Septemberwhich implies an acceleration of one tenth from the previous month’s record. For its part, the underlying CPI, which excludes food and energy prices from its calculation due to their greater volatility, closed the ninth month of 2025 with an increase of 3%, one tenth less and its lowest mark since July.

XTB analyst Manuel Pinto explains that These data have been better than estimated by the market consensus and that reinforce expectations that the US Federal Reserve (Fed) will cut interest rates at the meeting scheduled for next week. “While the central bank was already expected to reduce borrowing costs at its meeting next week, the report could help convince policymakers that they can do so again in December,” the analyst adds.

This has generated increases on both sides of the Atlantic: on Wall Street, the Nasdaq rises 1.20%; the Dow Jones, 1.17%; and the S&P500, 0.94%. In Europe, the main markets also register increasesalthough more modest: London has appreciated 0.70% at closing; Milan, 0.25%; and Frankfurt, 0.13%. Only Paris has ended in a draw.

Regarding the rest of the week, Pinto highlights the sanctions announced by the US on Russian oil companies, which has boosted the price of oil and revived concerns about a rise in inflation. However, the expert believes that the stock market rally still has a long way to go thanks to four levers: rate cuts, the good business results that have been known so far, the current time of year and the leadership of AI.

In contrast, highlights the “disappointing” results of several American technology companies: Tesla, Netflix or IBM, which are weighing “at times” on investor confidence. “Netflix shares were the ones that suffered the greatest corrections. Investors remain focused on three challenges: sustained growth in key markets, the pressure of operating costs and regulatory risk, especially in Latin America,” explains the XTB analyst.

Furthermore, he highlights the correction that the price of gold has suffered in recent sessions, which he attributes more to a “technical overbought” than to other reasons. Instead, he believes that the weakness of fiat currencies, inflationary pressure, and geopolitical doubts will continue to put positive pressure on its price. Today, the precious metal is trading practically flat compared to the day before.

In this Friday’s session, the biggest increases in the Ibex 35 They were scored by Indra (+3.00%), Inditex (+1.89%), ACS (+1.69%) and Fluidra (+1.45%). On the other hand, the most pronounced decreases have been those of Colonial (-0.97%), Puig (-0.71%), Grifols (-0.66%) and Merlin (-0.43%).

After the 5% increases recorded in yesterday’s session, the barrel of Brent oil, a reference in Europe, was trading today with a rise of 1%, to $66.66, while that of West Texas Intermediate (WTI) appreciated by 0.78%, to $62.27.

In the fixed income market, the yield on the Spanish bond maturing in 10 years rose to 3.157%, from 3.118% at Thursday’s close. In this way, the risk premium was placed at 53 basis points. Regarding currenciesthe euro appreciated 0.07% against the dollar in the mid-session, reaching an exchange rate of 1.1626 dollars for each euro.