US STOCKS-Wall Street looks to wrap up another volatile week on high note

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* Oracle hits record high after results beat
* Major U.S. stock indexes headed for second weekly drop
* Indexes up: Dow 0.99%, S&P 0.83%, Nasdaq 0.79%

(Adds comment, details; updates prices)
By Medha Singh and Devik Jain
Sept 11 (Reuters) - U.S. stocks rose in choppy trading on
Friday, at the end of another volatile week as Oracle delivered
solid quarterly results while data suggested a gradual pace of
economic revival from the coronavirus-led downturn.
The cloud services company's shares ORCL.N hit a record
high after its earnings beat estimates and it signaled a
recovery in client spending due to higher remote working-led
demand. Trading in so-called "stay-at-home winners" — Apple Inc
AAPL.O , Amazon.com Inc AMZN.O , Microsoft Corp MSFT.O and
Netflix Inc NFLX.O — were mixed but the mega-caps were set to
fall between 2.7% and 6.4% for the week, extending losses from
last Friday that brought Wall Street's rally to a screeching
halt.
The S&P 500 was headed for the first back-to-back weekly
decline since March as concerns about the massive build-up in
call options tied to tech names exacerbated the selloff.
"We are seeing some rotation from the previous leaders into
some of the laggards and it's a potentially encouraging sign
that we're not just having a 'sell everything' moment like in
March," said Ryan Detrick, senior market strategist at LPL
Financial in Charlotte, North Carolina.
Economically sensitive materials .SPLRCM and industrials
.SPLRCI rose the most among the major S&P sectors.
"The upward trajectory is in play but it's just going to be
much more of a volatile give-and-take relationship and it might
cause some investors some pain on those pullbacks," Detrick
said.
Many investors view the slump as a healthy consolidation
after a stunning five-month rally in the S&P 500 that was
powered by a narrow group of heavyweight tech names and scores
of fiscal and monetary stimulus.
Meanwhile, latest data showed U.S. consumer prices increased
solidly in August, but the labor market's slack is likely to
keep a lid on inflation as the economy recovers from the
COVID-19 recession. At 11:05 a.m. ET, the Dow Jones Industrial Average .DJI
was up 273.79 points, or 0.99%, at 27,808.37, the S&P 500 .SPX
was up 27.81 points, or 0.83%, at 3,367.00. The Nasdaq Composite
.IXIC was up 86.51 points, or 0.79%, at 11,006.10.
Exercise bike maker Peloton Interactive Inc PTON.O climbed
4.1% as it reported forecast-beating quarterly revenue due to a
surge in subscribers and increased demand for its fitness
products during the pandemic. Advancing issues outnumbered decliners by a 1.60-to-1 ratio
on the NYSE and by a 1.56-to-1 ratio on the Nasdaq.
The S&P index recorded four new 52-week highs and one new
low, while the Nasdaq recorded 15 new highs and 15 new lows.