US stocks rose on Friday, ending a four-day losing streak, led by tech shares. Oil prices fell, offsetting the impact of persistent inflation, as expectations for a Federal Reserve rate hike next week increased.
U.S. stocks rebounded on Friday, snapping a four-day losing streak. Technology stocks rose over 1%, with Oracle jumping 2% on strong AI cloud infrastructure revenue. NVIDIA and the "Magnificent Seven" stocks also generally moved higher. Brent crude futures fell 3% to approximately $104 per barrel that day. Despite the drop in oil prices, the U.S. August core Consumer Price Index (CPI) rose 0.3% month-over-month, exceeding market expectations of 0.2%, indicating persistent inflation. As a result, investor bets on a Federal Reserve rate hike next week climbed to 81%, and the 2-year U.S. Treasury yield rose 4 basis points to 4.59%.
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