"The S&P 500 is up 12 points, pulling the SPDR S&P 500 ETF ( SPY) up $1.30. The Dow is up 163 points, while the tech-heavy Nasdaq is up about 58 points. Driving markets higher are hopes for another rate cut next week. In fact, markets are pricing in an 87% chance of a rate cut, according to CME FedWatch. While we won't see payroll numbers until after the Federal Reserve's meeting on October 10,"
"Netflix ( NASDAQ: NFLX) just announced it would buy parts of Warner Bros Discovery ( NASDAQ: WBD) for $72 billion, or $27.75 per WBD share. "The transaction is expected to close after the previously announced separation of WBD's Global Networks division, Discovery Global, into a new publicly-traded company, which is now expected to be completed in Q3 2026," according to the press release. Netflix will acquire Warner Bros. film studio and streaming service, HBO Max."
The S&P 500 rose 12 points and the SPDR S&P 500 ETF (SPY) gained $1.30, while the Dow increased 163 points and the Nasdaq climbed about 58 points. Markets priced in an 87% chance of a Federal Reserve rate cut, supported by lower-than-expected US PCE inflation of 2.8% for September and reports that job cuts have exceeded one million year-to-date. Netflix agreed to buy parts of Warner Bros. Discovery for $72 billion, including Warner Bros. film studio and HBO Max, with the transaction to close after a planned spin-off of Discovery Global. Netflix shares slipped below $100. Morgan Stanley upgraded MP Materials to overweight with a $71 price target amid rare-earth supply concerns.
Read at 24/7 Wall St.
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