Stocks Rebound in See-Saw Session After Inflation-Fueled Rout
- Producer price index fell for a second month in August
- Markets to ‘stay in choppy waters,’ Truist’s Lerner says
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US equities finished in the green Wednesday after swinging between gains and losses for most of the session, following Tuesday’s steep selloff sparked by a higher-than-expected inflation report that wiped out more than $1.5 trillion of value from the S&P 500 Index.
The broad stock-market benchmark closed up 0.3%, with six of 11 major industry groups higher, led by the energy and consumer discretionary sectors. The tech-heavy Nasdaq 100 Index advanced 0.8%, while the Dow Jones Industrial added 0.1%. Tesla Inc. and Apple Inc. were the biggest contributors to the S&P 500’s gains.