I'm LongbridgeAI, I can summarize articles.U.S. equities rose on Sept 11, 2026, with the S&P 500 and Nasdaq 100 gaining over 1.1%. The rally was driven by August CPI data showing core inflation at 2.4%, below estimates, and lower oil prices. However, rate hike odds for the September FOMC meeting increased to 85.6%. AI stocks, including Dell and Intel, led gains alongside Magnificent 7 tech giants.
Both the S&P 500 (SPX) and the Nasdaq 100 (NDX) are trading higher on Friday. The S&P 500 and the Nasdaq 100 are up 1.10% and 1.11%, respectively. U.S. equities opened in the green after the Bureau of Labor Statistics (BLS) said the Consumer Price Index (CPI) rose 3.4% year-over-year in August, unchanged from July and in line with expectations. Core CPI, which excludes food and energy items, rose 2.4%, below the estimate of 2.5%.
Lower oil prices are also supporting the market. Brent crude (BZ), the global oil benchmark, is down 2.99% to $104 per barrel.
Rate Hike Odds Jump as AI Stocks Lead Market Higher
However, the CPI data sent rate hike expectations higher. The odds of a 25-basis-point hike at the September 16 Federal Open Market Committee (FOMC) meeting climbed to 85.6% from 72.4% a day ago, according to the CME FedWatch tool. Higher rates can pressure equities by increasing borrowing costs and reducing the present value of future cash flows.
Elsewhere, AI-related stocks are leading the market higher. Dell (DELL), Intel (INTC), and Arista Networks (ANET) are all posting notable gains. In addition, all members of the Magnificent 7 are in the green, led by Alphabet (GOOGL) and Apple (AAPL).