Stocks opened higher on Wednesday as investors weighed inflation concerns against the possibility of a recession. The Dow Jones Industrial Average was up 100 points, or 0.3%, at 31,300. The S&P 500 was up 0.4%, and the Nasdaq Composite was up 0.7%.
Investors are closely watching inflation data, which is due to be released later this week. Inflation is at a 40-year high, and investors are worried that it could lead to a recession. However, there are some signs that inflation may be starting to peak.
In other news, the Federal Reserve is expected to raise interest rates by 75 basis points at its meeting later this month. This would be the largest rate hike since 1994. The Fed is raising rates in an effort to combat inflation.
Overall, the stock market is trading in a narrow range as investors weigh the risks and rewards of investing in the current environment.
Here are some of the top stories on the market today:
- Inflation concerns weigh on stocks, but gains are modest.
- Fed expected to raise rates by 75 basis points at meeting later this month.
- Oil prices rise as supply concerns persist.
- Gold prices fall as the dollar strengthens.
- Cryptocurrencies continue to fall as investors remain risk-averse.
We will continue to monitor the market and provide updates as needed.
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