U.S. stocks rose in the final stretch of a volatile week, with lower oil prices easing concerns about inflation pressure. According to Sina Finance, at 11:02 in New York, the S&P 500 and the Dow Jones Industrial Average were up 0.8%, while the Nasdaq 100 rose 0.9%.
The broader market is on track to end its longest losing streak since June. According to Sina Finance, the U.S. consumer price index showed that progress toward the Federal Reserve's inflation target remained limited last month amid persistent pressure from the Iran conflict and data center construction.
Peter Williams of 22V Research said the market reaction suggested inflation data that was "just hot enough to prompt the Federal Reserve to tighten policy" may actually be a good thing, given investor concerns that policy could be too loose or further stoke inflation. Florian Ielpo of Lombard Odier Investment Managers said the report was clearly not the kind of inflation reading the market had feared, but it was also not enough to fully resolve concerns about U.S. inflation.
Oracle's cloud computing business grew faster than expected, giving technology stocks a fresh boost. Microsoft also plans to expand its data center capacity to more than three times its current level, which the market viewed as a positive signal.
Anais
