Stock futures advanced after Friday's inflation report, with those tied to the Nasdaq 100 climbing more than 1%.

On first glance, that move looks counterintuitive. Higher interest rates aren't necessarily a good thing for equity prices. Elevated borrowing costs can weigh on consumer spending and corporate profits. They can also make safer assets, like bonds, look more attractive by comparison.

One possible explanation for this mornings' early gains: stock investors finally have some clarity. Many believe today's report all but guarantees a rate hike at the Fed's meeting next week, and that temporarily clears up the question of whether chairman Kevin Warsh is committed to tackling inflation.

There's one other market move that could offer a boost to stocks today. Oil prices are sliding, with Brent crude prices down roughly 3% in early trading.