U.S. Markets Rise After Lengthy Sell-off, Despite Fears of Rate Hikes
S&P 500 and Nasdaq bounce but gains capped by producer price surprise.

The S&P 500 and the Nasdaq bounced on Wednesday after a five-day selloff, but inflation and rate hike worries capped the gains after a higher-than-expected rise in September producer prices.
The Labor Department's producer prices index rose 8.5% in the 12 months through September, slightly higher than an estimated 8.4% rise. The reading was still lower than an 8.7% increase in August.
Persistent inflation has increased concerns about the Fed's aggressive monetary action tipping the world's largest economy into a recession.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
"It's stubborn and some people are hoping that we had peak inflation and it's going to come down quickly," said Joe Saluzzi, partner at Themis Trading in Chatham, New Jersey.
"It is not going to be that way. That's what the Fed has been looking at and that's why they're raising rates the way they are. So this will take time and this is not going to be a quick thing."
Money markets are pricing in a 92% chance of another 75-basis-point hike in November. Investors will also scrutinize the Fed's September meeting minutes, due later in the day, for more clarity on the central bank's rate hike trajectory.
"The thing we're looking for from the FOMC is some evidence that it is open-minded, that they will consider being a lot more flexible," said Hugh Johnson, chief economist of Hugh Johnson Economics at Albany, New York.
"The comments are going to be just as hawkish as they have been."
At 10:00 a.m. ET, the Dow Jones Industrial Average was up 117.80 points, or 0.40%, at 29,356.99, the S&P 500 was up 9.26 points, or 0.26%, at 3,598.10, and the Nasdaq Composite was up 19.97 points, or 0.19%, at 10,446.16.
Battered megacap companies Apple Inc, Amazon.com, and Alphabet Inc were up between 0.58% and 1.16%.
Chip shares including Nvidia Corp, Qualcomm Inc, Micron Technology Inc, Advanced Micro Devices and Intel Corp were mixed.
The United States is scrambling to tackle unintended consequences of its new export curbs on China's chip industry that could inadvertently harm the semiconductor supply chain.
The Biden administration has allowed at least two non-Chinese chipmakers operating in China to receive restricted goods and services without their suppliers seeking licenses, the report said.
PepsiCo Inc gained 3.35% after the soft-drinks maker raised its annual revenue and profit forecasts on firm demand for its sodas and snacks despite multiple price increases.
Boeing Co slipped 0.74% after Credit Suisse started its coverage on the planemaker with an "underperform" rating and Street low price target.
Investors will also monitor comments from Fed's Minneapolis President Neel Kashkari, Washington's Vice Chair for Supervision Michael Barr, and New York's Governor Michelle Bowman.
Declining issues outnumbered advancers for a 1.74-to-1 ratio on the NYSE and for a 1.47-to-1 ratio on the Nasdaq.
The S&P index recorded no new 52-week high and 41 new lows, while the Nasdaq recorded 7 new highs and 201 new lows.
(Reuters Reporting by Ankika Biswas, Shreyashi Sanyal & Bansari Mayur Kamdar in Bengaluru; Editing by Anil D'Silva and Arun Koyyur)
For more daily stock coverage, subscribe to our Closing Bell e-newsletter.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
-
Ten Cheapest Places to Live in Virginia
Property Taxes The Commonwealth of Virginia has some cheap places to live. Here are a few if you hate paying property taxes.
-
Strong April Jobs Report Lowers Rate-Cut Hopes: What the Experts Are Saying
The June jobs report shows that hiring remains strong and gives the Fed a little extra breathing room when it comes to interest rates.
-
Stock Market Today: S&P 500, Nasdaq Hit New Highs After Vietnam Trade Deal
Ahead of a key July 9 tariff deadline, President Trump said the U.S. has reached a trade deal with Vietnam.
-
Stock Market Today: Another Quarter, More Mixed Price Action
"Up and to the right" remains the general trend despite persistent uncertainty around critical policy issues.
-
Stock Market Today: A Historic Quarter Closes on High Notes
"All's well that ends well" is one way to describe the second quarter of 2025, at least from a pure price-action perspective.
-
Stock Market Today: Stocks Swing as Trump Scraps Canada Trade Talks
Despite a mid-afternoon slip, the S&P 500 and Nasdaq ended the day at new record highs.
-
Stock Market Today: S&P 500, Nasdaq Near New Highs
The S&P 500 hasn't hit a new high since February. It's been since December for the Nasdaq.
-
Stock Market Today: Stocks Struggle to Sustain Gains
Mixed messages from multiple sources continue to make for a messy market for investors, traders and speculators.
-
Stock Market Today: Stocks Soar on Israel-Iran Ceasefire
It was a rocky start to the truce, but a temporary halt to fighting between Israel and Iran appears to be holding for now.
-
The Riskiest S&P 500 Stocks Right Now
Buyer beware: These are five of the riskiest stocks in the S&P 500 at the moment, based on one measure of volatility.