US stocks closed higher Friday after a 2.4% decline in oil prices, with the S&P 500 rising 0.86%, the Dow gaining 0.98% and the Nasdaq 100 advancing 0.91%. August headline CPI rose 0.4% month over month, matching expectations, while core CPI increased 0.3%, above the 0.2% forecast. Year-on-year headline inflation held at 3.4%, and core inflation eased to 2.4%, its lowest level in 5.5 years. Markets raised the implied probability of a 25-basis-point FOMC (Federal Open Market Committee) rate hike on September 15-16 to 88% from 75% on Thursday. Weaker University of Michigan consumer sentiment and higher inflation expectations offset some of the support from falling oil prices. Oil still gained 9% for the week despite Friday's decline, while Treasury yields moved modestly higher. Chipmakers, crypto-related stocks and Dell Technologies were among the stronger performers, while Oracle reversed its initial overnight gains.