Commodities
US Stocks Rally as Oil Prices Ease and Inflation Data Hits Expectations
U.S. stocks are rebounding on Friday as oil prices ease off their recent surge and inflation data comes in line with economists' expectations.
The S&P 500 index rose 1.4% to 3,845, while the Dow Jones Industrial Average gained 1.2% to 32,200. The Nasdaq Composite also climbed 1.5% to 11,350.
The rebound comes after a volatile week for markets, with oil prices spiking due to concerns over global supply. However, oil prices have since eased off their recent high, with the benchmark U.S. crude price dropping by $2.50 per barrel to around $80.