Stocks recovered much of their sharp losses from a day before, triggered by worries that interest rates will stay high for months longer than hoped.
The S&P 500 rose 1% Wednesday, good for more than two-thirds of its loss from Tuesday following a hotter-than-expected report on inflation. The Dow Jones Industrial Average added 0.4%, and the Nasdaq composite climbed 1.3%. Small-company stocks did even better.
A calmer bond market helped keep things steadier as Treasury yields eased. DaVita, Lyft and other stocks climbed after reporting stronger results for the latest quarter than analysts expected.
On Tuesday:
The S&P 500 rose 47.45 points, or 1%, to 5,000.62.
The Dow Jones Industrial Average rose 151.52 points, or 0.4%, to 38,424.27.
The Nasdaq composite rose 203.55 points, or 1.3%, to 15,859.15.
The Russell 2000 index of smaller companies rose 47.93 points, or 2.4%, to 2,012.10.
For the week:
The S&P 500 is down 25.99 points, or 0.5%.
The Dow is down 247.42 points, or 0.6%.
The Nasdaq is down 131.52 points, or 0.8%.
The Russell 2000 is up 2.11 points, or 0.1%.
For the year:
The S&P 500 is up 230.79 points, or 4.8%.
The Dow is up 734.73 points, or 1.9%.
The Nasdaq is up 847.79 points, or 5.6%.
The Russell 2000 is down 14.97 points, or 0.7%.