The stock market rose slightly Wednesday morning after better than expected wholesale inflation data, though investor fears remain after the market suffered its worst day since June 2020.
The New York Stock Exchange has traders working on it.
The S&P 500 was up.05% and the index was up 60 points before the opening bell.
The consumer price index rose more than expected in the 12 months ending in August, which led to fears that the Federal Reserve will continue its aggressive monetary policy.
The producer price index, which shows how much sellers pay for goods, fell.1% in August, but core prices, which exclude food and energy, fell.3%.
More than 75% of the price decline in final demand goods was caused by the decline in the gasoline price metric.
The S&P is down 18% so far this year, while the tech-laden Nasdaq is down 25%.
After last month's better than expected inflation reading, the market was brought back down to earth with a bang by Craig Erlam, a senior market analyst at OANDA.
There is a chance of a 100 basis-point rate hike if the Fed gets more aggressive. The Fed is expected to raise rates by 75 basis points later this month. Quincy said in an email that the Fed is likely to maintain its stance of being more assertive.
Tuesday was the worst day of the year for the price of virtual currency.
The S&P 500 faces the biggest drop this year as inflation remains high.
Inflation went up in August, but it slowed for the second month in a row as gas prices fell.
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