Market Performance - US stocks experienced a rise on Friday, with the Dow Jones Industrial Average increasing by approximately 0.6%, the S&P 500 gaining 0.5%, and the Nasdaq Composite ticking up by 0.2% after three consecutive days of losses [1] Inflation Data - The Personal Consumption Expenditures (PCE) index for August showed a year-over-year increase of 2.9% and a month-over-month rise of 0.2%, aligning with economists' expectations despite inflation remaining above the Federal Reserve's 2% target [2] Trade Tariffs - President Trump announced a potential 100% tariff on imports of branded drugs for pharmaceutical companies not building manufacturing plants in the US, causing shares of drugmakers in Europe and Asia to decline [3] - New tariffs on imports of heavy trucks and certain furniture categories will take effect on October 1, adding uncertainty to markets already concerned about the sustainability of the AI boom and the risk of a US government shutdown [4] Corporate Developments - Trump approved a deal to spin off TikTok's US operations from China's ByteDance, with a proposed price of $14 billion, which was viewed as undervaluing the company, estimated to be worth around $40 billion [5]