Finance

The U.S. Consumer Price Index for August rose 3.4% annually, matching overall expectations, while underlying core inflation components came in slightly warmer than forecasted. Following the report, market participants significantly adjusted their expectations, pricing in an 87% chance that the central bank will raise interest rates at its upcoming policy meeting.

Brent and WTI crude futures fell by nearly 3% at the end of the week, offering some relief to inflation-weary markets. This moderation follows a substantial price surge prompted by security disruptions, including the Houthi forces seizing a vital maritime chokepoint and Saudi Arabia halting a major oil pipeline due to attacks.

Investor enthusiasm for artificial intelligence hardware and infrastructure remains a key pillar of support for the equity markets. In recent corporate developments, Dell shares surged 12% following a bullish analyst review on AI demand, while SpaceX secured another major computing contract aligned with its aggressive revenue trajectory.