US stock indices opened higher on Wednesday with the benchmarks S&P 500 and the Nasdaq hitting record highs on growing optimism that the Federal Reserve could restart cutting interest rates from next month.
As of 10:20 AM Eastern Time, the S&P 500 rose 0.4%, the Dow Jones Industrial Average was up 0.8%, and the Nasdaq Composite added 0.3%.
At the open, the Dow Jones Industrial Average rose 112.9 points, or 0.25%, to 44571.53. The S&P 500 rose 16.9 points, or 0.26%, to 6462.67​, while the Nasdaq Composite rose 82.6 points, or 0.38%, to 21764.548.
The latest Consumer Price Index data indicared that the US tariffs on imports have not fully impacted the consumer prices.
Now, the investors are awaiting the wholesale inflation data due on Thursday.
in the bond market, the yield on the 10-year Treasury fell to 4.23% from 4.29% late on Tuesday.
Gainers and Losers
HanesBrands shares climbed 5.4% after the company agreed to sell itself to Gildan Activewear for $2.2 billion in cash and Gildan stock.
Grocery stores and delivery stocks declined after Amazon announced it will offer fresh groceries to customers in more than 1,000 cities and towns through same-day delaivery.
Kroger lost 4.6% and DoorDash shed 3.6%, while Amazon rose 0.9%.
Nvidia-backed CoreWeave slumped 12% after the AI data center operator reported a bigger-than-expected quarterly net loss.
Bullion
Gold prices rose on Wednesday, lifted by a weaker US dollar and falling Treasury yields.
Spot gold gained 0.5% to $3,362.92 per ounce by 9:47 AM ET (1347 GMT). US gold futures for December delivery added 0.4% to $3,412.20.
Spot silver rose 1.6% to $38.48 per ounce, platinum was down 0.1% at $1,335.19 and palladium gained 0.1% to $1,129.89.
Crude Oil
Oil prices fell on Wednesday after a US crude supply unexpectedly rose.
Brent crude futures dropped 80 cents, or 1.2%, to $65.32 a barrel by 10:46 AM EDT, while the US West Texas Intermediate crude futures fell 92 cents, or 1.5%, to $62.25 a barrel.
US crude stocks rose by 3 million barrels to 426.7 million barrels, the Energy Information Administration said on Wednesday.
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