Major U.S. indexes posted gains as investors shrugged off persistent inflation data, with the Dow rising 639 points and ACV Auctions soaring 44% on acquisition news.
ACV Auctions soared 44.4% after Copart agreed to acquire it for nearly $1.9 billion.
S&P 500 gained 1.05% after the August inflation report and oil price slide eased investor concerns.
Dow Jones Industrial Average rose 638.99 points, or 1.23%, as traders priced a more certain Fed hike.
Nasdaq Composite climbed 1.08%, led by technology stocks as Oracle's results lifted AI sentiment.
Oracle rose 2.5% after quarterly results beat estimates and reinforced confidence in its AI investments.
Adobe slipped 2.5% after its Q4 revenue forecast midpoint missed expectations.
Brent crude futures dropped more than 3% but stayed above $104 a barrel amid easing supply concerns.
WTI crude futures slipped close to the $100-a-barrel mark as oil prices declined.
CBOE Volatility Index fell 1.74 points to 16.16, signaling reduced market fear after the inflation data.
U.S. equity markets rallied on Friday, with the Dow Jones Industrial Average climbing 1.23% and the S&P 500 adding 1.05% despite an August CPI report showing a 0.4% monthly increase. While inflation remains stubborn, easing oil prices and strong corporate earnings from Oracle helped dampen investor anxiety, pushing the VIX down to 16.16.
Despite the CPI showing a 0.4% increase, markets rallied as investors focused on positive corporate earnings and a decline in oil prices, which helped ease broader economic concerns.