U.S. stocks rose at the close of trading on Wednesday, amid increasing signs of easing inflationary pressures, and a positive performance by major technology companies that offset losses in the chip sector.

Index

Index Value

Change in Value

Change (%)

52,658.64

150.37

0.29%

26,269.23

162.22

0.62%

7,572.40

28.81

0.38%

24,999.53

(147.50)

(0.59%)

8,382.43

15.58

0.19%

10,515.92

(13.48)

(0.13%)

24,681.10

340.37

1.40%

68,751.51

1,008.01

1.49%

77,185.43

130.49

0.17%

At the close, the Dow Jones Industrial Average rose 0.29%, or 150 points, to 52,658 points.

The broader S&P 500 index rose 0.38%, or 28 points, to 7,572 points, and the Nasdaq Composite rose 0.62%, or 162 points, to 26,269 points.

Across the Atlantic, the Stoxx Europe 600 rose a slight 0.10% to 642 points, as the technology sector turned lower.

In contrast, the UK's FTSE 100 fell 0.13% to 10,515 points, Germany's DAX declined 0.59% to 24,999 points, while France's CAC 40 rose 0.19% to 8,382 points.

In Japan, the Nikkei 225 rose 1.50% to 68,751 points, and the broader Topix index gained 1.20% to 4,088 points.

Commodity

Price

Change in Value

Change (%)

85.61

0.29

0.33%

80.39

1.05

1.32%

4,061.09

9.10

0.22%

On oil, benchmark Brent crude futures for September delivery rose 0.26%, or 22 cents, to $84.95 per barrel.

U.S. West Texas Intermediate (WTI) crude futures for August delivery rose 0.33%, or 26 cents, to $79.60 per barrel.

Regarding gold, precious metal futures for August delivery fell 0.44%, or $17.90, to $4,051.80 per ounce.

What drove the market moves? Weaker-than-expected producer price inflation data reinforced bets on a slower pace of monetary tightening, as investors turned to major technology stocks led by Apple, while profit-taking continued in the chip-making sector.