Market Close: Stocks Higher, Rate Hike Looms, Oil Pressure Grows • 9/11/26

Summary

CNBC's Jessica Ettinger recaps a higher Friday close for major averages, though all three indexes still ended the week lower. Markets are focused on the coming Fed meeting, with investors expecting a rate hike after warm core CPI and weak consumer confidence data. Oil and fuel prices remain under upward pressure after a Middle East pipeline shutdown and shipping disruptions, while mortgage rates have crossed above 7%.

• Major U.S. averages rose Friday but ended the week lower, breaking a four-day losing streak.
• Investors expect the Fed to raise interest rates at next week's meeting.
• Core CPI was warm enough to support a hike, while University of Michigan consumer confidence weakened.
• A Middle East pipeline shutdown and shipping disruptions are pressuring energy markets and lifting fuel prices.
• U.S. diesel hit a record above $6 a gallon, and regular gasoline averaged $4.30.
• The 30-year fixed mortgage rate crossed above 7%.
• Next week's watch list centers on the Fed meeting and the Emmy Awards.