US equity futures rise about 0.7% after CPI
S&P 500, Dow and Nasdaq 100 futures were around 0.7% higher, while long-dated Treasury yields eased from multi-year highs as oil prices paused their surge.
US equity futures were higher on Friday, ending four straight sessions of declines as oil prices and Treasury yields paused their recent surge despite evidence of elevated inflation. Contracts for the S&P 500, Dow and Nasdaq 100 were about 0.7% higher. Long-dated Treasury yields eased from their multi-year highs as fuel prices stopped extending this week's rally, which had been driven by the wave of strikes between the US and Iran in the Persian Gulf. Higher energy prices since the start of the month were seen worsening an already elevated inflation outlook, with headline inflation for August at 3.4%, reinforcing bets that the Fed is due to raise rates on Wednesday.
Credit-sensitive sectors, including debt-heavy AI hyperscalers and banks, were still lower for the week even though they edged higher premarket. Oracle jumped 5.5% after reporting a surge in cloud infrastructure revenue.