Stocks climb but US data boosts predictions of Fed interest rate hike

US stocks today: US stocks end higher as strong inflation data cements rate-hike bets

S&P 500 +0.85% Friday as inflation pushes Fed rate-hike probability to 90%; Dell soars on AI server demand. Rate hikes compress data-center CAPEX; S&P at 19x earnings—lowest since April 2025—signals near-term pressure on AI infrastructure spending despite cheaper valuations.