(Il Sole 24 Ore Radiocor) - Milano, 11 set - US shares opened higher after key consumer price data indicated inflation remains sticky, boosting bets the Federal Reserve will raise interest rates next week.

The CPI index showed that prices in August rose 0.4% on the month and 3.4% on the year. Core prices, stripping out food and energy, climbed 0.3% and 2.4%, respectively.

While broadly in line with expectations, the numbers remained stubbornly high and well above the Fed's inflation target of 2%. According to the CME Group's FedWatch Tool, the market is currently pricing in an 86% chance of an interest rate hike at the central bank's monetary meeting next week, up from around 70% yesterday.

High energy prices, driven by the US-Iran war, have fed into inflation to fuel rate hike fears.

Brent futures today came off recent highs, easing 3% to around 104 dollars per barrel. But they are still up sharply for the week.

The bond market meanwhile steadied after the 10-year Treasury yield came close to hitting 5% overnight.

On the stocks front, shares in Oracle rose 2.3% in early trade after the hyperscaler reported higher profits and revenue while shares in Adobe fell 1.7% after the software company said its move to a 'freemium' business model could slow revenue growth near term.

Just after the opening bell the Dow Jones was up 479.12 points, or 0.92%, at 52,543.22 points, the S&P 500 was up 62.75 points, or 0.83%, at 7,654.45, while the Nasdaq was up.

207.69 points, or 0.80%, at 26,289.41.

(RADIOCOR) 11-09-26 15:43:53 (0479) 5 NNNN