The Federal Reserve’s preferred gauge showed inflation continued to soften. The headline PCE Index fell 0.1% in November, the first monthly decline in three years. Meanwhile, Bristol Myers Squibb (BMY) announced it was acquiring Karuna Therapeutics (KRTX) in a deal valued at $14 billion, sending Karuna shares soaring. Other trending tickers on Yahoo Finance include Nike (NKE), Coinbase (COIN), and Rocket Lab (RKLB).

Top guests on Yahoo Finance Live today include:
3:20 p.m. ET - Paul Keary, Teneo CEO
3:35 p.m. ET - Jeff Buchbinder, LPL Financial Chief Equity Strategist
3:50 p.m. ET - Mitch Berlin, EY Americas Vice Chair Strategy and Transactions
4:05 p.m. ET - Robert Schein, Blanke Schein Wealth Management CIO