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Wall Street's main indexes rose on Friday, driven by gains in Apple following its strong sales forecast and a reading of the U.S. central bank's favored inflation gauge which aligned with expectations that the Fed would keep borrowing costs steady. U.S. prices increased as expected in December, while consumer spending surged, suggesting that the Federal Reserve has the leeway to delay cutting interest rates for longer this year. Traders kept their bets on the Fed waiting until June to resume rate cuts at 70% after the data was released, futures that settle to the central bank's policy rate indicated.

The asset manager said the token has transitioned from a memecoin to a tool for global financial inclusion.

The Federal Reserve's preferred measure of inflation picked up in December, pushing the central bank's goal of a 2% annual rate farther into the distance.

An inflation gauge closely watched by the Federal Reserve rose slightly last month, while some underlying prices pressures showed signs of easing. The latest inflation figures arrive as President Donald Trump has threatened to impose big import taxes on goods from Canada and Mexico, potentially affecting everything from autos to avocados, which could push prices higher in the coming months. Friday’s report from the Commerce Department showed that consumer prices rose 2.6% in December from a year earlier, up from a 2.4% annual pace in November and the third straight increase.

LONDON (Reuters) -Oil prices were steady on Friday but on course for weekly declines as markets waited to see if U.S. President Donald Trump will follow through on his threat to impose tariffs on Mexico and Canada on Saturday. Brent crude futures for March, which expire on Friday, were down 9 cents at $76.78 a barrel by 1420 GMT. Oil came under pressure from the potential negative economic impact of U.S. tariffs against Canada, Mexico and China, said PVM analyst Tamas Varga, adding that potential dollar appreciation as a result of tariffs also weighed on oil.

Zillow initiated, Electronic Arts upgraded: Wall Street's top analyst calls

The U.S. Securities and Exchange Commission (SEC) has granted approval for Bitwise’s combined Bitcoin and Ethereum exchange-traded fund (ETF) on an accelerated basis.

The personal consumption expenditures (PCE) price index rose 0.3% last month after an unrevised 0.1% gain in November, the Commerce Department said on Friday. Economists polled by Reuters had forecast the PCE price index climbing 0.3%. In the 12 months through December, the PCE price index advanced 2.6% after rising 2.4% in November.

(Bloomberg) -- The Federal Reserve’s preferred measure of underlying inflation remained muted in December and real incomes were soft, which should support further reductions in interest rates this year.Most Read from BloombergHow the 2025 Catholic Jubilee Is Reshaping RomeTrump Paves the Way to Deputize Local Police on ImmigrationManhattan’s Morning Commute Time Drops With New Congestion TollHistoric London Elevator Faces Last Stop in Labour’s Housing PushHousing Aid Uncertain After Trump’s Spen

The latest reading on the Fed's preferred inflation gauge comes just two days after the central bank paused its interest rate-cutting cycle.