US stocks climbed in the final stretch of a turbulent week, with a pullback in oil prices helping to ease worries about inflationary pressures. At 11:02 AM New York time, the S&P 500 and the Dow Jones Industrial Average both advanced 0.8%, while the Nasdaq 100 gained 0.9%, putting the market on track to end its longest losing streak since June.

The latest consumer price index report suggested that inflation made only limited progress toward the Federal Reserve's target last month, as ongoing pressures from the Iran conflict and data center construction persisted. However, Peter Williams from 22V Research noted that the initial market response indicates investors may view the data as "just hot enough to push the Fed toward tightening," which could paradoxically be a positive development amid concerns that overly loose policy might further stoke price gains.

Florian Ielpo from Lombard Odier Investment Managers commented: "This is clearly not the type of inflation report the market had been dreading, but it also doesn't fully resolve the underlying questions about the path of US price pressures."

In corporate news, Oracle Corp (NYSE: ORCL) delivered a fresh boost to technology shares after its cloud computing division grew faster than anticipated. Meanwhile, Microsoft Corp (NASDAQ: MSFT) plans to more than triple its data center capacity, a move that investors have interpreted as a constructive signal for the sector's growth outlook.