Stocks Higher Ahead of Key Inflation Reports

Wall Street is breaking out this afternoon as it looks to bounce back from last week's lackluster performance. Thanks to several blue chips, the Dow Jones Industrial Average (DJI) is 320 points higher this afternoon, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are more modestly in the black. Investors are waiting on two key inflation reports that are due out later this week, both of which could further inform the Federal Reserve's anticipated interest rate cut this month. 

Continue reading for more on today's market, including:

• 2 tech stocks about to join the SPX.
• Semiconductor stock bounces amid Apple buzz.
• Plus, Oracle readies for earnings; Moderna jumps on Canada news; and ELF dinged by bear note.

Oracle Corp (NYSE:ORCL) stock is 0.3% lower at $141.42 at last glance, and seeing five times the intraday average options volume. The software firm is expected to report fiscal first-quarter results after today's close. Already today, 23,000 calls and 37,000 puts have crossed the tape, with the September 120 put seeing the most action, followed by the 145 call in the same monthly series. On the charts, ORCL is rebounding from its Aug. 7 dip that was saved by its 126-day moving average near the $126 mark, adding 7.1% over the last month. Oracle stock now boasts a 34.2% year-to-date lead.