STOCKS | U.S. Stocks Rebound As Oil Prices Ease And Inflation Data Calms Markets

U.S. stocks rebounded on Friday, with the S&P 500 snapping a four-day losing streak after oil prices eased and inflation data came in close to economists’ expectations, according to RTHK. The S&P 500 rose 0.9 percent, the Dow Jones Industrial Average gained 509 points, or 1 percent, and the Nasdaq composite added 1 percent. The S&P 500 climbed 65.28 points to 7,656.98, the Dow Jones Industrial Average added 509.19 to 52,573.29, and the Nasdaq composite rose 251.31 to 26,333.04. Brent crude fell 2.8 percent to settle at US$104.61 after nearing US$110 overnight, easing some pressure on inflation. A Friday report showed U.S. consumers paid prices for gasoline, food and other costs of living that were 3.4 percent higher last month than a year earlier. The data strengthened expectations that the Federal Reserve will raise its main interest rate at its meeting next week.