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S&P 500, Nasdaq notch fourth day of gains

Yahoo Finance•December 05, 2025 at 9:10 PM•Full Content

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Gist

US stocks rose on Friday as inflation data cooled, boosting expectations of a Fed rate cut next week, while Netflix's $72B acquisition of Warner Bros. Discovery sparked market movement.

LLM Summary

The S&P 500 and Nasdaq posted their fourth consecutive day of gains, driven by a slight cooldown in the Fed’s preferred inflation measure and rising expectations of a rate cut. Meanwhile, Netflix’s $72 billion acquisition of Warner Bros. Discovery caused stock swings, with WBD rising and Netflix dipping. Labor data showed mixed signals, but jobless claims fell to a three-year low.

Full Article Content

Stock market today: S&P 500, Nasdaq notch fourth day of gains with next week's Fed meeting in focus

===================================================================================================

Rian Howlett , Karen Friar and Ines Ferré

Updated Fri, December 5, 2025 at 1:07 PM PST 1 min read

[^GSPC

+0.19%](/quote/%5EGSPC/ "^GSPC")

[NFLX

-2.89%](/quote/NFLX/ "NFLX")

[WBD

+6.28%](/quote/WBD/ "WBD")

[^DJI

+0.22%](/quote/%5EDJI/ "^DJI")

[^IXIC

+0.31%](/quote/%5EIXIC/ "^IXIC")

US stocks moved higher on Friday as Wall Street digested a cooling in the Federal Reserve's preferred inflation gauge, increasing the odds that the central bank will cut rates next week.

The S&P 500 (^GSPC) rose 0.19%, within striking distance of its first record close since October. The Nasdaq Composite (^IXIC) also gained about 0.3%, eyeing its ninth positive close in 10 sessions. The Dow Jones Industrial Average (^DJI) rose around 0.2%, following a mixed Thursday session for the gauges.

Dow Jones Industrial Average (^DJI)

===================================

47,954.99

+104.05

+(0.22%)

At close: 4:10:14 PM EST

Investors continue to bet heavily on a quarter-point interest rate cut from the central bank next Wednesday. Traders are pricing in 87% odds of a move lower, compared with 62% a month ago, according to CME FedWatch.

On Friday, a delayed reading of the PCE price index showed inflation rose about as expected in September. The "core" PCE index — the Fed's favored price gauge — cooled slightly, rising 2.8% on an annual basis. Meanwhile, US consumer confidence rose for the first time in five months as respondents' inflation expectations improved.

The jobs market, meanwhile, has presented more of a mixed bag of data this week. A Challenger report on Thursday showed US companies cut 71,000 jobs last month, the worst November print since 2022. Yet new weekly jobless claims fell to their lowest since September 2022, reinforcing the picture of a labor market cooling gradually rather than rapidly.

Meanwhile, news landed that Netflix (NFLX) will buy Warner Bros. Discovery's (WBD) studios and its streaming unit for $72 billion, following a weeks-long bidding war. Netflix stock ticked down, while WBD shares moved 2% higher.

In earnings, Hewlett Packard Enterprise (HPE) stock rose slightly after the server maker's quarterly sales outlook missed high AI-fueled expectations.

Stock market today: S&P 500, Nasdaq notch fourth day of gains with next week's Fed meeting in focus
===================================================================================================

[Rian Howlett](/author/rian-howlett) , [Karen Friar](/author/karen-friar)  and [Ines Ferré](/author/ines-ferre)

Updated Fri, December 5, 2025 at 1:07 PM PST 1 min read

[^GSPC

+0.19%](/quote/%5EGSPC/ "^GSPC")

[NFLX

-2.89%](/quote/NFLX/ "NFLX")

[WBD

+6.28%](/quote/WBD/ "WBD")

[^DJI

+0.22%](/quote/%5EDJI/ "^DJI")

[^IXIC

+0.31%](/quote/%5EIXIC/ "^IXIC")

US stocks moved higher on Friday as Wall Street digested a cooling in the Federal Reserve's preferred inflation gauge, increasing the odds that the central bank will cut rates next week.

The S&P 500 ([^GSPC](https://finance.yahoo.com/quote/%5EGSPC)) rose 0.19%, within striking distance of its first record close since October. The Nasdaq Composite ([^IXIC](https://finance.yahoo.com/quote/%5EIXIC)) also gained about 0.3%, eyeing its ninth positive close in 10 sessions. The Dow Jones Industrial Average ([^DJI](https://finance.yahoo.com/quote/%5EDJI)) rose around 0.2%, following a [mixed Thursday session](https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-end-little-changed-as-wall-streets-fed-rate-cut-conviction-runs-high-210046639.html) for the gauges.

Dow Jones Industrial Average (^DJI)
===================================

47,954.99

+104.05

+(0.22%)

At close: 4:10:14 PM EST

Investors continue to bet heavily on a quarter-point interest rate cut from the central bank next Wednesday. Traders are pricing in 87% odds of a move lower, compared with 62% a month ago, according to [CME FedWatch](https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html).

On Friday, a delayed reading of the PCE price index showed inflation rose about as expected in September. The "core" PCE index — the Fed's favored price gauge — cooled slightly, rising 2.8% on an annual basis. Meanwhile, US consumer confidence rose for the first time in five months as respondents' inflation expectations improved.

The jobs market, meanwhile, has presented more of a [mixed bag of data](https://finance.yahoo.com/news/the-labor-market-is-not-going-to-give-any-straight-answers-anytime-soon-110037014.html) this week. A Challenger report on Thursday showed US companies [cut 71,000 jobs](https://finance.yahoo.com/news/job-market-mixed-bag-jobless-claims-drop-to-3-year-low-but-employers-shed-71000-jobs-in-worst-november-since-2022-124809562.html) last month, the worst November print since 2022. Yet new [weekly jobless claims](https://finance.yahoo.com/news/a-k-shaped-economy-has-investors-on-edge-bofa-says-it-may-hold-up-110013215.html) fell to their lowest since September 2022, reinforcing the picture of a labor market cooling gradually rather than rapidly.

Meanwhile, news landed that Netflix ([NFLX](https://finance.yahoo.com/quote/NFLX)) will [buy Warner Bros. Discovery's](https://finance.yahoo.com/news/netflix-to-acquire-warner-bros-in-72-billion-deal-125537621.html) ([WBD](https://finance.yahoo.com/quote/WBD)) studios and its streaming unit for $72 billion, following a weeks-long bidding war. Netflix stock ticked down, while WBD shares moved 2% higher.

In [earnings](https://finance.yahoo.com/news/live/earnings-live-ulta-stock-pops-hpe-falls-with-guidance-in-focus-uipath-stock-skyrockets-213508470.html), Hewlett Packard Enterprise ([HPE](https://finance.yahoo.com/quote/HPE)) stock rose slightly after the server maker's quarterly [sales outlook missed](https://finance.yahoo.com/news/hpe-falls-outlook-disappoints-slower-091244116.html) high AI-fueled expectations.