Stock Market Today: S&P 500, Nasdaq Futures Rise Ahead of Key PCE Inflation Data
US stock futures rise as investors await the delayed PCE inflation data that could influence the Federal Reserve’s December 10 rate decision. S&P 500 and Nasdaq edge higher, while Netflix announces a $72 billion acquisition of Warner Bros. Discovery.
US stock futures traded higher on Friday as investors awaited key PCE inflation data ahead of the Federal Reserve’s rate decision next week.
On Friday, US stock futures went up a little bit as the investors directed their focus to the postponed release of the Federal Reserve's preferred measure of inflation—the PCE price index, an important factor that might influence the interest rate decision next week.
Futures on S&P 500 increased by 0.1%, futures on Nasdaq 100 went up by 0.2%, and the Dow Jones Industrial Average futures were slightly up and down, mostly flat, after Thursday's unsynchronized session.
The S&P 500 is getting closer to a new record high after three days of slight gains. On the other hand, the Nasdaq is hoping for its ninth positive close out of ten sessions as the market's outlook improves on the Fed's rate cuts expectation. The CME FedWatch data indicates that traders are factoring in an 87% likelihood of a 25-basis-point cut on December 10, which is a significant increase from 62% just a month ago.
Focus on Inflation and Labor Data
With the monthly US jobs report missing again due to delays, investors are closely watching Friday’s set of economic releases. These include the PCE inflation data for September — postponed because of the government shutdown — along with personal income, personal spending, and the University of Michigan’s consumer sentiment index.
A separate report earlier showed US firms cut 71,000 jobs in November — the highest since 2022 — while weekly jobless claims fell to their lowest since September 2022. Analysts say the trend supports a narrative of a gradually cooling labor market rather than a sharp slowdown.
Netflix Makes $72 Billion Move
In major corporate news, Netflix announced a massive $72 billion acquisition of Warner Bros. Discovery’s studio and streaming business, ending a fierce multi-week bidding battle. Netflix shares slipped nearly 3% in premarket trade, while WBD stock moved higher before being halted.
The deal, which includes franchises like Harry Potter, DC Comics, and Game of Thrones, is expected to undergo intense antitrust scrutiny in the US and Europe.
Earnings Movers
Hewlett Packard Enterprise (HPE) shares plunged almost 9% after the company’s sales forecast missed Wall Street expectations due to delayed server deals tied to government shutdowns and data-center bottlenecks.
Ulta Beauty surged nearly 6% after stronger-than-expected Q3 results and a modest full-year outlook upgrade. Victoria’s Secret also jumped more than 13% in premarket trading after raising its 2025 sales and earnings guidance.
Commodities Update
Silver prices steadied after a sharp pullback from record highs, with traders taking profits following an overheated rally. The metal is trading above $57 per ounce as expectations of Fed rate cuts continue to support precious metals.
