US EQUITY OPEN: US indices reverse initial CPI losses

OPEN: US indices opened in the green, reversing all the weakness seen in wake of the hotter than expected core CPI M/M metric, which has lifted the probability of a Fed 25bps rate hike next week to 86% from 70% pre-data. In the initial aftermath of the data set, Treasuries, spot gold, and US equity futures all saw notable pressure, while the Dollar soared, but the move have since pared, and more. The crude complex is lower by c. USD 3/bbl, reversing some of Thursday's strong gains, as FT reported that Gulf Foreign Ministers plan to meet with their Iranian counterpart in an effort by Oman and Iran to secure a deal on shipping through the Strait of Hormuz. In addition, Saudi Crown Prince MBS called President Trump twice on Thursday, urging him to launch strikes against Houthis, but Trump declined. All sectors are in the green, as Communications and Tech sit atop of the breakdown, with the latter buoyed by a stellar Oracle earnings report. Ahead, UoM prelim for September was just released with the calendar thereafter pretty quiet as traders await the aforementioned FOMC confab next week. STOCK SPECIFICS: Oracle (ORCL): Earnings & FY guidance beat expectations Adobe (ADBE): Q4 revenue outlook falls slightly short of forecasts ACV Auctions (ACVA): Copart (CPRT) to acquire ACV for $10.5/shr Kroger (KR): Lowered FY26 identical sales growth outlook excluding fuel RH (RH): EPS & rev. beat Celsius (CELH): CEO bought 18k shares on Sept 10 for $493.8K GameStop (GME): CEO Ryan Cohen bought 1mln shares on Sept 10 for $20.4M Novo Nordisk (NVO): Downgraded to Underweight from Equal Weight at Morgan Stanley NuScale (SMR): Downgraded to Sell from Neutral at UBS