The New York Stock Exchange closed Friday's session, September 11, in positive territory, with the Dow Jones adding 0.98% to 52,572.81 points, the S&P 500 gaining 0.86% to 7,656.85 points and the Nasdaq rising 0.96% to 26,333.04 points. The move was driven by relief in oil prices, with Brent crude falling 2.81% to $104.61, despite persistent tensions in the Middle East.
The drop in oil prices came to ease investors' concerns about inflationary pressures, ahead of next week's Federal Reserve decision. Data from the Bureau of Labor Statistics revealed that the year-on-year inflation rate in the US remained at 3.4% in August, while the consumer price index recorded a monthly rise of 0.4%, pressured by high fuel prices.
Despite Friday's gains, Wall Street closed one of the most turbulent weeks for the American economy in recent times, with weekly losses on the three main indices. The Dow Jones dropped 1.53%, while the S&P 500 fell 0.79% and the Nasdaq lost 0.68%.
Investors piled into the market despite expecting an interest rate hike from the Fed in September, after the latest consumer price index report, managing to halt a four-day consecutive decline in the S&P 500.
