U.S. stocks rose on Friday after a tame inflation report reinforced expectations that the Federal Reserve will cut interest rates at its final meeting of the year next week.

Friday's inflation data could soothe some worries about price growth. In September, the Fed's preferred inflation metric slowed down on an annual basis for the first time since April, BEA data showed Friday.

Key monthly metrics from the US government continue to be released now that the shutdown has ended. Next up: September wholesale inflation and retail sales.

Core inflation, a price measure closely watched by the Federal Reserve, came in cooler than expected in September, according to delayed federal data, a win for Republican President Donald Trump, who wants the central bank to cut interest rates more quickly and is under pressure from Democrats over affordability.

Fed officials should be able to focus on the wavering labor market and cut interest rates by another quarter percentage point at their final meeting of the year next week, thanks to relatively stable inflation data.

Today brings another batch of earnings, including from the retailers Kroger, Dollar General and Ulta Beauty. Key economic data will include a delayed September reading of the Federal Reserve's preferred inflation gauge,