Wall Street Ends Four-Day Losing Streak

US stock indices closed higher on Friday, halting four sessions of losses as oil prices and Treasury yields paused their surge. The S&P 500 gained 0.9%, the Dow added 509 points, and the Nasdaq rose 0.9%. Long-dated Treasury yields eased from multi-year highs as fuel prices refrained from extending this week’s rally, which was fueled by a wave of strikes between the US and Iran in the Persian Gulf. High energy prices were expected to worsen an already elevated inflation outlook, with headline inflation at 3.4% in August, reinforcing bets that the Fed will raise rates on Wednesday. Credit-sensitive sectors gained as the oil rally paused, with Alphabet up 1.8% and Amazon adding 1.9%, while JPMorgan rose 0.8%. Oracle erased earlier gains, down 1.8% despite reporting strong results. Chipmakers gained, with AMD up 2.5% and Intel up 2.6%. Dell surged 11.9% to all-time high on RBC Outperform initiation. On the week, the S&P 500 lost 0.6%, the Nasdaq fell 0.7%, and the Dow shed 426 points.