US stocks jump after oil prices ease and an inflation update comes in near expectations

NEW YORK (AP) — U.S. stocks rebounded Friday and regained much of their losses for the week after oil prices eased off their recent spurt. An update on inflation across the United States that came in close to economists’ expectations, even if prices are still rising too quickly for everyone’s liking, also helped calm the market.

The S&P 500 climbed 0.9% and snapped a four-day losing streak, its longest since June. The Dow Jones Industrial Average jumped 509 points, or 1%, and the Nasdaq composite rose 1%.