Episode Details

Stocks rose Wednesday in a bout of volatile trading, as investors weighed what the latest U.S. inflation data means for Federal Reserve policy. Tech shares led a rebound from steep session lows.

The S&P 500 gained 1.07% to close at 5,554.13. Wednesday marked the first time since October 2022 that the broad market index dropped 1% on an intraday basis and then closed higher by more than 1%.

The Dow added 124.75 points, or 0.31%, to end at 40,861.71. At its low, the blue-chip index lost as much as 743.89 points. The Nasdaq  was up  2.17%, wiping out its earlier losses to close at 17,395.53.

ASX SPI up 50

COMMODITIES

• Putin says Russia considering export limits on uranium, titanium, and nickel to protest Western sanctions.
• China's CATL says plans to adjust lithium production in Jiangxi.
• Vale bumps up 2024 iron ore production forecast, shares rise.
• Peru copper output this year forecast below expectations, deputy minister says.
• Nippon Steel trying to salvage its $14.9bn bid for US Steel.
• Oil recovers on worries about Hurricane Francine.
• US oil stocks build as crude imports rise, fuel demand weakens – EIA.
• Gold falls as CPI data dampens talk of oversized US rate cut.

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