Apple and Tesla have boosted the S&P 500 and Nasdaq ahead of upcoming inflation data next week.

US Treasury yields fell, boosting growth stocks like Tesla and Meta Platforms by 1.6% each.

Apple shares increased 1.3% after Beijing ordered central government employees to stop using iPhones at work, potentially reducing Apple’s revenue by 4% this year.

The S&P 500 IT sector rose 0.7%, while oil and gas company Conocophillips rose 1.0% after Erste Group upgraded it to buy.

The Federal Reserve’s policy decision is on September 20 and the August Consumer Price Index is on September 13.

Traders expect interest rates to stay the same in September and pause in November at 93% and 57%, respectively.