US Stocks Rebound as Oil Prices Ease and Inflation Data Comes in Near Expectations

US stocks rebounded on Friday after oil prices eased and inflation data came in near expectations. The S&P 500 climbed 0.9% to break a four-day losing streak, while the Dow Jones Industrial Average rose 519 points or 1%. The Nasdaq composite also increased by 1.1%.

The pullback in oil prices took some pressure off inflation, which remains high at 3.4% year-over-year. This was close to what economists expected and Wall Street had prepared for.

Economists believe the Federal Reserve will hike interest rates next week, a move that typically helps control inflation by making borrowing more expensive and slowing down the economy.