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US sharemarkets closed higher on Friday as investors honed in on the chance of a bigger interest rate cut by the US Federal Reserve on Wednesday. Former New York Fed President Bill Dudley said there was a strong case for a 50 basis point interest rate cut. Warner Bros Discovery shares soared 10.8% after its multi-year distribution with Charter Communications was renewed early. Shares of e-commerce company Etsy jumped 7.6% after the Biden administration said it was moving to curb low-value shipments entering the US duty-free under the US$800 "de minimis" threshold. Shares of Chinese e-commerce firm PDD Holdings - owner of Temu - fell 2.4%. Uber shares rallied 6.5% after the ride-hailing platform said it would bring autonomous ride hailing to Austin, Texas and Atlanta in partnership with Alphabet's Waymo. The Dow Jones index rose, the S&P 500 index gained and the Nasdaq index added. Both indexes posted their fifth consecutive winning day. For the week, the Dow rose 2.6%. The S&P 500 was up 4% and the Nasdaq gained 6%, the best week this year for both indexes. Visit CommSec’s Market News hub: https://www.commsec.com.au/market-new... Follow us on Twitter: / commsec Follow Us On Instagram: / commsec Subscribe to CommSecTV: / commsectv