Wall Street Nears Record High as Fed Rate Cut Looms

• US stock market approaches all-time high, with S&P 500 up 0.3% and 0.2% below its record.
• Netflix fell 2.1% after announcing a $72 billion acquisition of Warner Bros.
• Ulta Beauty and Victoria's Secret & Co. saw significant stock jumps due to strong financial results and raised forecasts.
• Traders widely expect the Federal Reserve to cut its main interest rate next week, which would be the third cut of the year.
• International markets showed mixed results, with gains in Europe and South Korea, but a drop in Tokyo's Nikkei.

Why It Matters: US stock market nears record high due to expected Fed rate cuts, influencing investor wealth.