Wall Street Rebounds After Five Sessions as Oil Falls, August CPI Meets Forecasts

U.S. stocks rebounded after five consecutive sessions of losses on September 11, helped by lower oil prices and an August consumer price index report that broadly matched market expectations.

The Dow Jones Industrial Average rose 509.19 points, or 0.98%, to close at 52,573.29 on the New York Stock Exchange. The S&P 500 gained 0.86% to 7,656.98, while the Nasdaq Composite advanced 0.96% to 26,333.04.

Investor sentiment improved as oil prices, which had pressured equities in recent sessions, pulled back. Brent crude for November delivery fell 2.8% to $104.61 a barrel, declining for the first time in six sessions. West Texas Intermediate for October delivery dropped 2.4% to settle at $100.05 a barrel, snapping a nine-session winning streak.

U.S. inflation data for August also eased some market concerns. The CPI rose 0.4% from a month earlier and 3.4% from a year earlier, largely in line with forecasts. Core CPI, which excludes food and energy, increased 0.3% from the previous month, above expectations for a 0.2% gain.

Still, the inflation report did little to dent expectations for additional tightening by the Federal Reserve. CME FedWatch showed the probability of a 25-basis-point rate increase at the September 15-16 Federal Open Market Committee meeting climbed above 86% during the session.

Short-term Treasury yields also moved higher as concerns over monetary policy persisted. The yield on the two-year U.S. Treasury rose to its highest intraday level since July 2024. Even so, lower oil prices helped ease fears of renewed inflation, allowing stocks to absorb the pressure from higher rates and end the day higher.