The Dow Jones Industrials gained 30.12 points Wednesday to 31,135.09
The S&P 500 piled on 13.32 points to 3,946.01.
The NASDAQ Composite rocketed 86.1 points to 11,719.68.
Moderna was one of the top performers in the NASDAQ, jumping more than 6%. Tesla rose 3.6%, and Apple tacked on 1%.
Wednesday’s late day 52-week lows in the S&P 500 included Intel, which fell to the lowest since February 2016.
Other stocks hitting 52-week lows included Walgreens Boots Alliance lowest since Nov. 2020
Capital One (Jan. 2021)
Quest Diagnostics (March 2021)
The Dow sank more than 1,200 points Tuesday, or nearly 4%, while the S&P 500 lost 4.3%. The NASDAQ Composite dropped 5.2%. It was the biggest one-day slide for all three averages since June 2020.
The market moves came after August’s consumer price index report showed headline inflation rose 0.1% on a monthly basis despite a drop in gas prices.
The hot inflation report left questions over whether stocks could go back to their June lows or fall even further. It also spurred some fears that the Federal Reserve could potentially hike even higher than the 75 basis points markets are pricing in.
Treasury prices gained a bit, lowering yields to 3.41% from Tuesday’s 3.42%. Treasury prices and yields move in opposite direction.
Oil prices surged $1.47 to $88.78 U.S. a barrel.
Gold prices dropped $11.90 to $1,705.50 U.S. an ounce.
Stocks Stabilize After Massive Selloff