The major averages finished higher for a fourth straight day as economic data provides further incentive for the Federal Reserve to lower interest rates next week. the Dow Jones Industrial Average rose 104 points to 47,954. The S&P 500 rose 13 points while the Nasdaq rose 72 points or 0.31% to 23,578 points.

On the week, the S&P 500 finished up 0.3% while the Nasdaq and 30-stock Dow added 1% and 0.5%, respectively.

Today, the Commerce Department said that the core personal consumption expenditures price index for September came in at 2.8%, lower than the 2.9% Dow Jones estimate. Core PCE’s 0.2% rise on the month was in line with expectations, as were the monthly and annual inflation readings for headline PCE. The University of Michigan’s consumer survey, a report that provides a glimpse at sentiment as well as the view on inflation over the near and longer term, came in higher than expected for December.

The 10-year Treasury yield gained 3 basis points to 4.13%. The 30-year bond yield added more than 2 basis points to 4.79%, while the 2-year Treasury yield rose more than 3 basis points to 3.56%. Traders are pricing in an 87% chance of a cut next Wednesday, far higher than just a couple weeks ago, according to the CME FedWatch tool.

The big news today was Netflix share lower on news they struck a deal with Warner Bros. Discovery to buy the film and streaming assets for $72 billion, a deal that’s expected to close in 12 to 18 months. Netflix shares were nearly 3% lower, while shares of WBD jumped more than 6%.

In the commodity market space, oil was up nearly a percent to $60 a barrel. Gold was down half a percent while the crypto currencies resumed their downward trend.

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