Wall Street closed sharply higher on Sept 11 as easing oil prices and hotter US inflation data strengthened expectations that the Federal Reserve (Fed) will raise interest rates at its policy meeting next week.
According to Reuters, the S&P 500 climbed 0.86% to 7,656.98, while the Nasdaq Composite gained 0.96% to 26,333.04. The Dow Jones Industrial Average rose 0.98% to 52,573.29.
US consumer prices accelerated last month as gasoline costs rebounded, adding pressure on the Fed to keep inflation in check. Interest-rate futures now price in nearly a 90% probability of a rate hike on Wednesday, up from 72% a day earlier, according to the CME FedWatch tool.
Technology and artificial intelligence-linked hardware stocks were among the session’s strongest performers. Dell surged 12% to a record high, Hewlett Packard Enterprise jumped 12% and HP gained 8.4% following stronger-than-expected quarterly results from Oracle. Oracle itself slipped 1.8%.
Nine of the S&P 500’s 11 sectors advanced, led by communication services, which gained 1.35%, followed by consumer discretionary with a 1.13% rise.
Investor sentiment was also helped by lower oil prices. Brent crude fell nearly 3%, although it remained above US$104 a barrel and was still up around 9% for the week amid concerns over disruptions along Middle Eastern shipping routes.
The CBOE Volatility Index fell two points to 15.88, signalling easing market anxiety.
Despite the rebound, the S&P 500 lost 0.8% for the week while the Nasdaq declined 0.7%. The benchmark remains roughly 2% below its Aug 13 record close but is still up about 12% so far in 2026.
