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

NEW YORK (AP) — U.S. stocks rebounded and clawed back 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 also helped calm the market Friday. The S&P 500 climbed 0.9% and broke a four-day losing streak. The Dow Jones Industrial Average added 1%, and the Nasdaq composite rose 1%. A drop of nearly 3% for Brent oil’s price took some pressure off inflation, while expectations strengthened in the bond market for an upcoming hike to interest rates by the Federal Reserve.