Stocks rise ahead of key inflation data; Netflix buys Warner Bros. In a deal worth $83 billion

US stock indexes rose at the open on Friday ahead of a key inflation report that will be among the last data Federal Reserve officials see before making their final decision on this year’s interest rate.

The Dow Jones Industrial Average rose 0.1% in early trading. The S&P 500 and Nasdaq Composite indexes each advanced 0.3%. Major indices ended Thursday’s session little changed after oscillating between small gains and losses throughout the day. The Dow Jones and S&P 500 are within 1% of their all-time highs. The Nasdaq has about 2% to rise to reach a new record.

On Friday, investors were awaiting the release of the September personal consumption expenditures price index, the Federal Reserve’s preferred measure of inflation. Economists expect inflation to remain steady at 2.9% in September, while core inflation, which excludes volatile food and energy prices, is expected to accelerate to 2.8% from 2.7% in August.

Inflation data and labor market reports released on Friday earlier this week will be factored into deliberations when members of the Federal Reserve’s policy committee meet for the last time this year next Tuesday and Wednesday. Investors expect officials to cut interest rates by a quarter of a percentage point on Wednesday.

In corporate news, Netflix (NFLX) beat out Paramount Skydance (PSKY) in a bidding war for Warner Bros. Television. Discovery (WBD). The deal, which values ​​the popular film studio and streaming service HBO Max at about $83 billion, could reshape the entertainment industry, but is also expected to come under scrutiny from regulators. Netflix stock fell about 4% in early trading, while Paramount Skydance shares fell 5%. Warner Bros. stock rose. Discovery by 3%.

Shares of major technology companies were mostly higher in early trading. Nvidia (NVDA), Alphabet (GOOG), Microsoft (MSFT), Amazon (AMZN), and Meta Platforms (META) rose less than 1%, while Tesla (TSLA) and Apple (AAPL) were little changed. Big tech companies have recovered some of their losses from a choppy November, but most are still well below their recent highs.

Treasury yields were mostly higher on Friday morning, with the 10-year Treasury yield, which affects interest rates on a variety of business and consumer loans, at 4.11% after closing yesterday at 4.1%.

Gold futures rose 0.5% to $4,265 an ounce, while West Texas Intermediate crude futures, the US crude oil benchmark, fell 0.2% to $59.55 a barrel.

Bitcoin recently traded at $90,500, down from overnight highs above $92,000 and far from a record high of more than $125,000. The US dollar index, which measures the value of the US currency against a basket of foreign currencies, fell 0.1% to 98.95.