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AI server maker Dell soared to a record high, while Hewlett Packard Enterprise and HP also rallied after Oracle's quarterly results topped estimates. Oracle shares dipped. U.S. consumer prices accelerated last month as the cost of gasoline rebounded after two straight monthly declines, adding pressure on the Fed to tighten monetary policy to fight inflation. Interest rate futures now reflect a nearly 90% probability that the central bank will raise rates at its policy meeting on Wednesday, according to the CME FedWatch tool. That is up from a 72% likelihood on Thursday. "That's pretty much as close to a slam dunk as you're going to get," said Thomas Martin, senior portfolio manager at GLOBALT Investments in Atlanta. "The Fed will do the right thing and raise rates, and that is good at the margin for keeping inflation in check." According to preliminary data, the S&P 500 gained 64.84 points, or 0.85%, to end at 7,656.54 points, while the Nasdaq Composite gained 245.85 points, or 0.94%, to 26,327.58. The Dow Jones Industrial Average rose 502.12 points, or 0.96%, to 52,566.22. Friday's rally follows recent nervousness on Wall Street related to inflation and rising long-term Treasury yields, as well as concerns about massive spending to build AI data centers. The S&P 500 is down about 2% from its record-high close on August 13, and it remains up 12% in 2026. The S&P 500's recent decline, coupled with a strong earnings outlook, has the benchmark trading at 19 times expected earnings. That is its cheapest since April 2025, when U.S. President Donald Trump's "Liberation Day" tariff announcements threw global markets into a tailspin. Oil prices fell but remained up around 9% for the week as attacks along Middle East shipping routes stoked concerns about prolonged supply disruptions. Brent crude futures slipped almost 3% but were still above $104 a barrel. Shares of ACV Auctions soared after online vehicle auctioneer Copart agreed to buy it in a nearly $1.9 billion deal. (Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times) (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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