New Delhi, Dec. 5 -- Wall Street key indices gained on Friday as the dated reading of the Federal Reserve's preferred inflation gauge boosted interest rate-cut bets.

Next week, Fed policymakers are set to spar over whether to cut interest rate despite stubborn price pressures and a still-resilient labor market.

Investors expect a rate cut by the Fed, with bets pointing to further easing into 2026.

At 10:07 a.m. ET, the Dow Jones Industrial Average rose 236.46 points, or 0.49%, to 48,087.63, the S&P 500 gained 31.44 points, or 0.46%, to 6,888.56 and the Nasdaq Composite gained 131.27 points, or 0.56%, to 23,636.41.

At the opening bell, the Dow Jones Industrial Average rose 28.7 points, or 0.06%, to 47,879.6. The S&P 500 rose 9.2 points...