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Core CPI Beats Estimates as Tech Stocks Rally

By Markets Desk · 2026-09-12 · 1 min read
A modern glass skyscraper reflecting a clear blue sky
Illustration: Tradingbird

Core inflation outpaced expectations, driving a shift in rate hike odds while technology shares posted gains.

Core consumer price inflation rose 0.3% month over month in the latest report. This figure exceeded the 0.2% expected by analysts. The data suggests price pressures remain persistent in the economy.

Tech stocks gained more than 1% on Friday. Oracle shares jumped 2% on strong AI cloud revenue results. Nvidia and other major technology firms also moved higher during the session.

Inflation data shifts rate expectations

Market participants adjusted their views on Federal Reserve policy following the data. Odds of a rate hike rose to 81% on Polymarket. This shift occurred ahead of the Fed meeting scheduled for next week.

The two-year Treasury yield increased by 4 basis points. It reached 4.59% during trading. The 10-year yield remained near 4.9% throughout the session.

Oil prices decline on geopolitical tensions

Brent crude futures fell 3% to approximately $104 per barrel. This drop happened despite ongoing tensions between Iran and the United States. Lower energy costs provided some relief to broader markets.

Sector performance varied across the board. Communications and consumer discretionary stocks posted gains. Industrials and materials sectors also saw positive movement. The broad rally helped snap a four-day losing streak for equities.

Corporate results drive sector momentum

Oracle reported a significant increase in quarterly AI cloud infrastructure revenue. This result boosted investor confidence in the technology sector. Other notable names included Adobe and SkyWorks Solutions.

The market reaction reflects a mixed signal from economic data. Inflation remains sticky, yet corporate earnings show strength. Investors are balancing these factors in their trading strategies. GN markets/inflation (en-US) reported on these developments.

Based on reporting by Yahoo Finance, compiled by the Tradingbird desk.

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