Stocks snapped a four-day losing streak on Friday, with the S&P 500 gaining 1% and the Dow Jones Industrial Average surging more than 600 points, as crude oil prices eased and August inflation data came in line with economist expectations.
U.S. stock futures rose Friday morning as a pullback in crude oil prices and strong earnings from Oracle steadied markets ahead of the pivotal August consumer price index report, due before the opening bell.
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Major U.S. stock indexes snapped a four-day losing streak on Friday after crude prices fell sharply and August consumer inflation came in broadly in line with expectations. The Dow surged more than 600 points, though all three benchmarks finished the holiday-shortened week lower.
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Oracle reported record fiscal first-quarter revenue of $19.3 billion, driven by 121% cloud infrastructure growth, as the company secured more than $30 billion in additional AI contracts and lifted its full-year revenue target to at least $90 billion.
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