US STOCKS-Wall St set to open higher after August inflation report, oil price slide
11/09/2026 14:02
* Futures up: Dow 0.86%, S&P 500 0.78%, Nasdaq 0.91%
* CPI up 0.4% in August, after 0.1% rise in July
* Oracle climbs after results surpass estimates
* U.S. average diesel price crosses $6 a gallon
(Updates after CPI data)
By Tharuniyaa Lakshmi
Sept 11 (Reuters) - The main U.S. stock indexes were set
to open higher on Friday, putting them on track to end a rough
week on a positive note even as data showed consumer prices
accelerated in August.
The Consumer Price Index increased 0.4% last month after
edging up 0.1% in July, the Labor Department's Bureau of Labor
Statistics said on Friday. In the 12 months through August,
consumer inflation advanced 3.4% after rising by the same margin
in July.
"Those numbers are still stubborn. This to me is an in-line
print which will probably not satisfy anybody, whether you're
bullish or bearish," said Joe Saluzzi, co-founder and co-head of
equity trading at Themis Trading.
Fluctuating interest rate expectations have left the market
backdrop fragile as stocks navigate a confluence of headwinds,
including the intensifying Middle East conflict and elevated
Treasury yields.
The CPI report followed Thursday's slightly
hotter-than-expected Producer Price Index reading that did
little to reassure investors.
"We believe that the Federal Reserve needs to respond to
these in the near term or risk a repeat of the high inflation of
the 1970s, which would represent yet another failure of
discretionary monetary policy," according to Said Haidar,
founder of Haidar Capital Management.
At 8:50 a.m. ET, Dow E-minis YMcv1 were up 447 points, or
0.86%; S&P 500 E-minis EScv1 were up 59.5 points, or 0.78%.
Nasdaq 100 E-minis NQcv1 were up 265.25 points, or 0.91%.
Up to Thursday's close, the benchmark S&P 500 was on track
for its biggest weekly loss since June, while the blue-chip Dow
was headed for its steepest decline since March.
"Some investors are questioning how much further this year's
rally can run. Encouragingly, history suggests that strong
starts tend to persist," wrote Jeff Schulze, head investment
strategist at Franklin Templeton Institute.
Since 1950, in years when the S&P 500 gained more than 10%
through the end of August, the index went on to rise further
from September through December in 25 of 28 instances, according
to Schulze.
Brent crude futures LCOc1 slipped more than 3% but were
still above $104 a barrel. West Texas Intermediate crude futures
CLc1 slipped but were close to the $100-a-barrel mark.
"The surge in energy prices since the turn of the month
creates new upside risk for inflation," said Bill Adams, chief
U.S. economist at Fifth Third Commercial Bank.
The U.S. national average price of diesel on Thursday
surpassed $6 a gallon for the first time ever, according to
price tracker GasBuddy.
Meanwhile, Oracle ORCL.N jumped nearly 7% premarket after
topping estimates for quarterly results late Thursday, which
reassured shareholders that its AI investments were generating
returns.
Adobe ADBE.O slipped more than 3% premarket after the
midpoint of its fourth-quarter revenue forecast fell short of
expectations.
Shares of ACV Auctions ACVA.N surged about 45% after
online vehicle auctioneer Copart CPRT.O agreed to buy it in a
nearly $1.9 billion deal.
(Reporting by Niket Nishant, Tharuniyaa Lakshmi and Utkarsh
Hathi in Bengaluru; Editing by Joyjeet Das)
((Niket.Nishant@thomsonreuters.com))