U.S. equities rose on Friday as traders awaited inflation data that could further inform the Federal Reserve’s upcoming interest rate decision.
The S&P 500 and the Nasdaq Composite traded up 0.3% and 0.4%. The Dow Jones Industrial Average rose 89 points, or 0.2%.
Netflix shares pulled back 4% 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 deal is expected to close in 12 to 18 months. Shares of WBD jumped 4%.
Traders are keeping a close eye on a variety of economic data points, as the November payrolls report is scheduled to come out after the Fed’s Dec. 10 meeting.
The market will be able to sort through a fresh slate of economic releases on Friday.
The Commerce Department will release delayed September data on consumer spending and income as well as the personal consumption expenditures price index, the Fed’s primary inflation gauge. The PCE release was delayed due to the record-setting U.S. government shutdown and will give the Fed its final inflation view before Wednesday’s interest rate vote.
Also, the University of Michigan will also release its consumer survey for December on Friday, a report that provides a glimpse at sentiment as well as the view on inflation over the near and longer term.
