Stock market today: S&P 500, Nasdaq, Dow rise as Fed-favored PCE inflation data cools

Market Overview - US stocks experienced an upward movement, with the S&P 500 rising 0.5%, the Nasdaq Composite gaining 0.7%, and the Dow Jones Industrial Average increasing by approximately 0.5% [1] - Investors are heavily betting on a quarter-point interest rate cut from the Federal Reserve, with 87% odds of a rate decrease compared to 62% a month ago [2] Inflation and Consumer Confidence - The PCE price index indicated that inflation rose as expected in September, with the core PCE index increasing by 2.8% on an annual basis [3] - US consumer confidence improved for the first time in five months, as inflation expectations among respondents showed positive changes [3] Labor Market Data - The jobs market presented mixed signals, with a report indicating that US companies cut 71,000 jobs last month, marking the worst November figure since 2022 [4] - Conversely, new weekly jobless claims fell to their lowest level since September 2022, suggesting a gradual cooling of the labor market rather than a rapid decline [4] Company News - Netflix announced its acquisition of Warner Bros. Discovery's studios and streaming unit for $72 billion, following a competitive bidding process, resulting in a slight decline in Netflix's stock while WBD shares rose by 3% [5] - Hewlett Packard Enterprise's stock fell over 3% after the company's quarterly sales outlook did not meet high expectations driven by AI advancements [5]