The U.S. stock market surged near its all-time high, with the S&P 500 just 0.3% below the record set in October. Ulta Beauty and Victoria’s Secret reported stronger profits, boosting market confidence. Netflix announced a $72 billion deal to acquire Warner Bros. Discovery, causing industry speculation and market fluctuations.

Investors are anticipating a third interest rate cut by the Federal Reserve to stimulate the job market. Lower rates boost investments and the economy but can worsen inflation. Economic reports show inflation at 2.8% in September, affecting consumer expectations. Treasury yields rose to 4.13%, while global stock markets fluctuated, with Germany’s DAX up and Japan’s Nikkei down due to declining household spending and potential interest rate hikes.

Read more at Yahoo Finance.: Wall Street rises to the edge of its all-time high