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The S&P 500 rose on Friday, on pace for its fourth straight winning day, as traders digested inflation data that could further inform the Federal Reserve’s upcoming interest rate decision.
The Dow Jones Industrials surged 236.40 points to open the week’s last session at 48,087.34.
The much-broader index climbed 36.69 points to 6,893.81.
The NASDAQ popped 154.61 points to 23,658,75.
Stocks are tracking to post slight gains for the week. The S&P 500 is up 0.4% week to date, while the NASDAQ has added almost 1%. and the 30-stock Dow has taken on 0.7%.
The market sorted through a fresh slate of economic releases Friday. The Commerce Department reported that the core personal consumption expenditures price index for September – which was delayed due to the record-setting U.S. government shutdown – was 2.8%, lower than the 2.9% Dow Jones estimate.
The PCE report, which serves as the Fed’s primary inflation gauge, and will give the central bank its final inflation view before Wednesday’s interest rate vote.
Also on Friday, the University of Michigan’s consumer survey, a report that provides a glimpse at sentiment as well as the view on inflation over the near and longer term, came in higher than expected for December.
Netflix shares were marginally lower following the streaming giant’s announcement that it’s struck a deal with Warner Bros. Discovery to buy its film and streaming assets for $72 billion.
The transaction is expected to close in 12 to 18 months. Shares of WBD jumped 3%.
The streamer’s stock came off its lows of the session after a senior administration official told the media that the Trump administration views the deal with “heavy skepticism.”
The 10-year Treasury weakened, raising yields to 4.12% from Thursday’s 4.10%. Treasury prices and yields move in opposite directions.
Oil prices gained 38 cents to $60.05
Gold prices brightened $26.40 to $4,269.40.
