US stocks rise as oil prices fall following economic data

Major US stock indexes opened higher on Friday, putting them on track to end a difficult week on a positive note despite data showing that consumer prices accelerated in August.

In trading, the Dow Jones Industrial Average rose 140.4 points, or 0.27%, at the open to 52,204.46.

The S&P 500 gained 45.1 points, or 0.59%, at the open to 7,636.75, while the Nasdaq Composite climbed 207.7 points, or 0.80%, to 26,289.414.

Crude oil prices fell, giving back some of the sharp gains recorded this week amid escalating tensions in the Middle East. West Texas Intermediate crude futures dropped 3% to $99.28 a barrel, while Brent crude futures fell 3.1% to $104.32 a barrel.

The Consumer Price Index rose 0.4% month-on-month in August and 3.4% year-on-year, in line with Dow Jones estimates. Excluding food and energy, however, the core CPI increased 0.3%, slightly exceeding expectations.

US Treasury yields were largely steady following the report, although the two-year Treasury yield reached its highest level since July 2024, reflecting growing expectations that the Federal Reserve will raise interest rates.

According to the CME FedWatch Tool, markets are now pricing in an 85.6% probability of a 25-basis-point interest rate hike next week.