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U.S. stocks climb amid falling oil
On Friday, the U.S. stock indices on Wall Street rose amid a decline in oil prices, driven by increasing concerns about inflation and the likelihood of the Federal Reserve raising interest rates. August inflation data showed a 0.4% increase in overall inflation and a 0.3% rise in core inflation, both in line with market expectations, heightening the chances of a 25 basis point rate hike next week, with the probability of implementation surpassing 87%. Meanwhile, the rise in oil prices, fueled by escalating tensions between the United States and Iran, contributed to mounting inflationary pressures, as the US diesel price exceeded $6 per gallon for the first time. This led to a decline in the U.S. bond market and pushed the yields on 10-year and 30-year bonds to their highest levels in two decades. The markets are now closely watching the Federal Reserve's decision, with inflation data playing a crucial role in reinforcing expectations of monetary tightening.
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