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The S&P 500 and Nasdaq rose on Friday as megacaps including Apple and Tesla gained ahead of a fresh inflation reading next week that will provide further clues on the U.S. interest rate trajectory.

U.S. Treasury yields edged lower on Friday, helping boost major growth stocks, with Tesla and Meta Platforms leading gains, up about 1.6% each.

Shares of Apple rose 1.3% after a two-day selloff following news that Beijing had ordered central government employees in recent weeks to stop using iPhones at workplaces.

Wall Street analysts see a small hit to Apple’s revenue this year from the curbs, with Morgan Stanley saying the worst case scenario was a 4% drop. The S&P 500 information technology sector rose 0.7%, with Adobe up 1.0% after Mizuho upgraded the software firm to “buy” from “neutral.”

Energy was the top gainer among major S&P 500 sectors, up 0.7%, boosted by 1.0% gains in Conocophillips after brokerage Erste Group raised the oil and gas producer’s rating to “buy.” The S&P 500 and the Nasdaq have shed more than 1% this week as stronger-than-expected services activity data and a fall in weekly jobless claims fueled concerns the Federal Reserve could keep interest rates higher for longer.

“This month of September so far has taken the path of a negative outlook on rates, meaning that the Fed will probably continue to raise rates to combat the stubborn growth of the economy in the U.S.,” said Peter Andersen, founder of Andersen Capital Management.

The Consumer Price Index reading for August is due on Sept. 13, while the Federal Reserve’s policy decision is scheduled for Sept. 20.

Traders see a 93% chance of interest rates staying at current levels in September, while pricing in a near 57% chance for a pause in rate hikes in the November meeting, according to CME FedWatch Tool.

At 9:48 a.m. ET, the Dow Jones Industrial Average was down 5.74 points, or 0.02%, at 34,494.99, the S&P 500 was up 9.07 points, or 0.20%, at 4,460.21, and the Nasdaq Composite was up 57.54 points, or 0.42%, at 13,806.37.

Investors also digested mixed commentary from several Fed speakers on Thursday.

New York Fed President John Williams kept his options open over future interest rate policy while Dallas Fed President Lorie Logan said though it “could be appropriate” to skip a rate hike in the upcoming meeting, more policy tightening might be needed.

San Francisco Fed President Mary Daly is due to speak later in the day.

Among other stocks, Kroger rose 1.9%, reversing premarket losses after the retailer beat estimates for quarterly adjusted profit.

GameStop fell 5.1% on a report that the U.S. Securities and Exchange Commission was investigating the videogame retailer’s chairman, Ryan Cohen.

Declining issues outnumbered advancers by a 1.03-to-1 ratio on the NYSE and by a 1.23-to-1 ratio on the Nasdaq.

The S&P index recorded 10 new 52-week highs and 12 new lows, while the Nasdaq recorded 23 new highs and 89 new lows.

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