Before the U.S. PCE data, U.S. stocks remained stable, with the Dow Jones rising nearly 100 points in the early session. Experts: Economic data is unlikely to hinder interest rate cuts
Before the release of the U.S. September PCE data, U.S. stocks opened steadily. The Dow Jones Industrial Average rose by 82 points, the S&P 500 increased by 15 points, and the Nasdaq climbed by 92 points. Alphabet and Nvidia's stock prices rose by 1% and 0.5%, respectively. Netflix's stock price fell by more than 4% after acquiring Warner Bros. film and streaming assets for $72 billion. Experts pointed out that the current economic data is unlikely to prevent a rate cut in December, but it may influence Powell's tone, and the market may reassess the interest rate trend for 2026
Before the release of the September Personal Consumption Expenditures (PCE) price index, U.S. stocks opened steady.
The Dow Jones reported 47,932 points, up 82 points; the S&P 500 reported 6,872 points, up 15 points; the Nasdaq reported 23,597 points, up 92 points or 0.4%.
Google's parent company Alphabet (GOOG) rose 1%; Nvidia (NVDA) rose 0.5%.
Netflix $72 billion acquisition paid in cash and stock
Netflix (NFLX) fell more than 4%, while Warner Bros. (WBD) rose more than 3%. The two parties reached an acquisition agreement, with Netflix acquiring Warner Bros.' film and streaming media assets for $72 billion in cash and stock, with an enterprise value of $82.7 billion. Each Warner Bros. shareholder will receive $23.25 in cash and $4.5 in Netflix common stock.
Experts: Powell's tone may change after data
Wolf von Rotberg, a stock strategist at Swiss bank IG, pointed out that the currently disclosed economic data is unlikely to prevent a rate cut in December, but "it may change Powell's tone." If Federal Reserve Chairman Powell emphasizes inflation risks, the market may reassess the interest rate trend for 2026, which could put greater pressure on the long-term bond yield curve and stock valuations
