CNBC Daily Open: Cooler-than-expected U.S. consumer inflation adds to market cheer

Taken from CNBC’s Daily Open, our international markets newsletter — Subscribe today

A tamer-than-expected U.S. inflation report for September injected optimism into markets. Traders are now betting that the Federal Reserve will almost certainly cut rates at its October meeting — scheduled for later this week — as well as at its December gathering.

Major U.S. indexes climbed Friday and had their second consecutive week in the green, with the S&P 500

, Nasdaq Composite

and the Dow Jones Industrial Average