US stocks rally as oil, yields ease

U.S. stocks are higher early Friday, putting the major indexes on track to end a difficult week on a positive note, even after August inflation data showed consumer prices picked up.

Markets have been grappling with shifting Fed expectations, rising tensions in the Middle East and elevated Treasury yields, leaving sentiment somewhat fragile.

There is some relief on two key fronts today. Oil prices have pulled back from earlier highs, with crude futures retreating to around $99.50 a barrel after topping $104. Meanwhile, the benchmark 10-year Treasury yield has eased to roughly 4.93% after briefly nearing 5%.

The advance is broad-based, with all 11 S&P 500 sectors trading higher. Technology and communication services are among the leading gainers, while chipmakers and precious-metals miners are among the strongest performers.

Even with Friday's rebound, however, the major U.S. indexes remain on track to post weekly losses.

Here is a snapshot of where markets stood around 10:08 a.m. EDT: