NEW YORK / LONDON (IT BOLTWISE) – U.S. stock markets posted slight gains on Friday, boosted by the prospect of an impending interest rate cut from the Federal Reserve. Important company news, especially from Salesforce and Netflix, had a significant impact on market development.
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U.S. stock markets enjoyed a slight bounce on Friday, boosted by expectations of a Federal Reserve interest rate cut next week. This prospect has boosted investor optimism and pushed the indices closer to their recent record highs. The Dow Jones Industrial Average rose 0.4 percent to 48,022 points, reaching a new three-week high. The Nasdaq 100 also rose 0.4 percent, while the S&P 500 posted a more moderate increase of 0.2 percent.
The focus of attention was on key economic data, particularly the core PCE deflator, which is the Fed’s preferred price indicator. Since the results were in line with expectations, there were no major market reactions. Analysts at DZ Bank expect the Fed to cut interest rates in December, which has already led to price gains in recent days. The future monetary policy direction will be crucial for the direction of the stock markets.
Among the corporate news, the takeover race for Warner Bros. Discovery stood out, with Netflix leading the way with a bid of $27.75 per share. Despite this generous offer, Netflix shares fell by 3.6 percent, while Warner shares rose by five percent. However, this development is limited by antitrust issues that could influence the offer price.
In the technology sector, Salesforce boosted market sentiment by rising 5.4 percent and crossing the 200-day line. In contrast, Hewlett Packard Enterprise saw only modest increases of 1.1 percent, reflecting disappointing AI server sales forecasts. There were also notable price movements in small cap stocks: Victoria’s Secret benefited from strong sales and improved forecasts and rose 14 percent, while Ulta Beauty reached a record high with a share price increase of 12 percent.
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