Wall Street Edges Up as Fed Rate Cut Hopes Remain Strong

• Wall Street closed with slight gains, marking a second consecutive weekly advance for major indexes.
• Economic data, including consumer spending and PCE Price Index, aligned with forecasts, reinforcing expectations for a Fed rate cut.
• Markets anticipate an 87.2% chance of a 25-basis-point Federal Reserve interest rate cut at the upcoming meeting.
• Warner Bros Discovery surged 6.3% after Netflix agreed to acquire its TV, film studios, and streaming division for $72 billion.
• Ulta Beauty shares climbed 12.7% after the retailer raised its annual sales and profit forecasts.

Why It Matters: A likely Fed rate cut next week impacts your financial future.