Wall Street stocks advanced early Friday ahead of US inflation data, while Netflix dipped after announcing a deal to acquire Warner Bros. Discovery for $83 billion.
US stocks are on track for modest weekly gains as markets anticipate an interest rate cut next week from the Federal Reserve.
The Fed decision will include a review of personal consumption pricing data released later Friday. The report provides a key reading on inflation, although Friday’s data is for September, having been delayed due to the US government shutdown.
About 15 minutes into trading, the Dow Jones Industrial Average was up 0.3 percent at 48,003.19.
The broad-based S&P 500 added 0.2 percent at 6,870.92, while the tech-rich Nasdaq Composite Index fell 0.2 percent to 23,569.07.
Warner Brothers Discovery rose 1.9 percent after announcing that Netflix won a bidding war over Paramount, which had reportedly complained about the “fairness and adequacy” of the sale process in a letter to Warner Brothers.
Netflix dropped 1.1 percent while Paramount Skydance tumbled 5.1 percent.
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