New york: US stock indices on Wall Street closed higher on Friday, driven by falling oil prices and strong inflation data that reinforced expectations that the Federal Reserve would raise interest rates next week to combat inflation.

According to Emirates News Agency, the SandP 500 index rose 64.84 points, or 0.85%, to close at 7,656.54 points. The Nasdaq Composite climbed 245.85 points, or 0.94%, to 26,327.58. Meanwhile, the Dow Jones Industrial Average gained 502.12 points, or 0.96%, reaching 52,566.22 points. The market movements reflect investor optimism that the Federal Reserve's actions will address ongoing inflation concerns, despite the potential impact on economic growth.