S&P 500 Rises 0.86 Percent Friday, Snapping Four-Day Losing Streak as Oil Retreats and CPI Meets Expectations Before Fed Decision

The S&P 500 climbed 0.86 percent to 7,656.98 on Friday September 11, snapping a four-day losing streak, while the Nasdaq Composite jumped 0.96 percent to 26,333.04 and the Dow Jones Industrial Average rose approximately 1 percent, according to CNBC. The rally came after August consumer price index data showed headline inflation at 3.4 percent year-over-year, in line with estimates, while the monthly increase of 0.4 percent matched expectations. Core CPI, excluding food and energy, rose 0.3 percent monthly and 2.4 percent annually, with the monthly reading 0.1 percentage point above forecast, per the Bureau of Labor Statistics. The in-line inflation print, combined with a sharp pullback in oil prices from Brent crude futures falling 3 percent to $104 per barrel after touching $108 on Thursday, helped ease immediate stagflation concerns that had pressured equities earlier in the week. The recovery masks continued pressure ahead of the Federal Reserve's September 15-16 meeting, with money markets now pricing a 66.1 percent probability of a 25 basis point rate hike, nearly double pre-Jackson Hole levels, according to CME Group FedWatch. Treasury yields climbed approximately 20 basis points across the curve over the past week, with the 10-year yield testing 4.974 percent as futures markets embed at least one more rate increase. Despite Friday's bounce, all three major indices posted weekly declines after the four-day slide, with Apple and Alphabet gaining over 2 percent on Friday providing crucial support to the tech-heavy indices. Communication services led sector gains, rising 1.9 percent, while ten of eleven S&P sectors closed higher. The S&P 500's 200-day moving average has now risen for 329 consecutive trading sessions, the fourth strongest streak over the last 10 years, though analysts warn broad-market rallies face immediate resistance as climbing Treasury yields and elevated gasoline prices divide consumer spending and crush multiple expansion for high-valuation