"Investors it seems are still digesting the week's economic news, which featured dueling inflation reports (the PPI suggests inflation is falling, while the CPI said it's not only rising, but rising a bit faster than expected) as well as a weekly unemployment report confirming the job market's weakness. On balance, the consensus still seems to be that the Federal Reserve will cut interest rates next week, probably by 0.25%."
"Paramount Skydance ( Nasdaq: PSKY) may be preparing to bid to acquire Warner Bros. Discovery ( Nasdaq: WBD) in a tie-up of TV streaming content giants. Details are in flux and the bid amount is uncertain, but investors bid up Paramount stock more than 15% yesterday, and the stock's still rising this morning, up 2.4% premarket. Warner Bros. stock gained nearly 29% yesterday on the news, and is up more than 8% again today."
"In earnings news today, S&P 500 component company Adobe ( Nasdaq: ADBE) beat analyst forecasts by thirteen cents last night, reporting $5.31 per share in fiscal Q3 profit on just under $6 billion in sales. Adobe also guided higher, forecasting Q4 earnings between $5.35 and $5.40 per share, with sales of roughly $6.1 billion. Its stock is up 3% premarket."
The Vanguard S&P 500 ETF (VOO) is trading flat premarket as investors process mixed inflation signals and a weak weekly unemployment report. The PPI suggests falling inflation while the CPI shows inflation rising faster than expected. Market consensus favors a 0.25% Federal Reserve rate cut next week. Paramount Skydance may bid for Warner Bros. Discovery, driving large gains in Paramount and Warner Bros. shares. Adobe beat fiscal Q3 estimates with $5.31 EPS on nearly $6 billion in sales and raised Q4 guidance, lifting its stock. Delta reiterated earnings guidance while increasing its 2025 revenue outlook to 2–4%.
Read at 24/7 Wall St.
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