Stocks rose Friday, with investors looking to recover from four straight days of declines, as oil prices retreated. Traders also looked past growing expectations of a Federal Reserve rate hike following the latest U.S. inflation reading.

The Dow Jones Industrial Average traded 531 points higher, or 1.02%. The S&P 500 climbed 0.86%, while the Nasdaq Composite gained 0.82%.

Oracle rose over 6%, Intel gained more than 2%, and SK Hynix advanced over 1%.

CPI rose 0.4% in August month over month and 3.4% year over year, matching Dow Jones estimates. However, excluding energy and food, CPI climbed 0.3%, slightly more than expected.

Yields were mostly steady after the report, though the 2-year Treasury yield touched its highest level since July 2024, reflecting increasing expectations of a Federal Reserve rate hike. The CME Group’s FedWatch tool shows an 85.6% chance of a quarter-point rate hike next week.