Wall Street Near Record Highs as Fed Countdown Begins
At noon, markets will receive the Personal Consumption Expenditures (PCE) Price Index for September—the Fed’s preferred inflation gauge.
Quick overview
- The upcoming economic reports will focus on U.S. inflation, a key challenge for the Federal Reserve alongside employment.
- The S&P 500 is expected to rise towards a new all-time high, fueled by interest-rate cut expectations and increased investor confidence.
- Major stock gainers include Cooper, Ulta Beauty, and Albemarle Corp, while Hewlett Packard and Paramount Skydance are experiencing declines.
- Friday's key releases will include the PCE Price Index, with economists predicting a 0.3% monthly increase and a 2.8% annual rise.
After yesterday’s labor data, the economic reports set to be released this Friday will focus on U.S. inflation—the other major challenge the Federal Reserve must confront alongside employment.
The S&P 500 is expected to continue its push toward a new all-time high, driven by expectations of interest-rate cuts and growing confidence in the economy, which are boosting investors’ appetite for risk.
Among individual stocks, the biggest pre-market gainers include Cooper (+13.5%), Ulta Beauty (+1.3%), and Albemarle Corp (+5.8%). On the downside, Hewlett Packard drops 9.04%, and Paramount Skydance falls 2.23%.
Looking toward the final stretch of the year, Wall Street’s major indexes are posting widespread gains in 2025. Over the past six months, the Nasdaq has climbed 21.8%, the S&P 500 is up 15.45%, and the Dow Jones follows with a 13% advance.
Global Markets
Elsewhere, sentiment is also positive. In Europe, the Euro Stoxx 50 rises 0.35%. Germany’s DAX gains 0.50%, France’s CAC 40 adds 0.30%, and the UK’s FTSE 100 edges up 0.16%.
In Asia, Hong Kong’s Hang Seng gained 0.58%, the Shanghai Composite rose 0.70%, South Korea’s Kospi jumped 1.78%, and Japan’s Nikkei 225 fell 1.03%.
The Economic Indicators Wall Street Is Watching
Following Thursday’s labor data, Friday’s key releases will center on U.S. inflation—one of the two pillars of the Federal Reserve’s dual mandate, which requires keeping inflation near 2% while maintaining unemployment around 4.5% or lower.
At noon, markets will receive the Personal Consumption Expenditures (PCE) Price Index for September—the Fed’s preferred inflation gauge, above the Consumer Price Index (CPI) and the Producer Price Index (PPI).
Economists expect a 0.3% monthly increase and a 2.8% annual rise, slightly above the previous month and still above the Fed’s target.
Also on the agenda are December readings of inflation expectations and consumer sentiment from the University of Michigan.
These figures will be among the most important data points available to policymakers ahead of the Fed’s next monetary-policy meeting, scheduled for December 9–10.
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