Stocks rose Wednesday, as investors tried to look past the latest U.S. inflation data.
The Dow Jones Industrials pulled emphatically ahead 232.24 points to 32,392.98.
The S&P 500 took on 19.82 points to 4,020.87.
The NASDAQ Composite stayed in the red 58.14 points to 11,679.56.
Chevron was the best-performing Dow stock, climbing nearly 4%. Merck shares also popped more than 3%. Energy led the S&P 500 higher, with the sector jumping 4.3%, while utilities and materials each gained more than 2%.
Some tech shares struggled, tempering gains for the Nasdaq. Meta Platforms, Microsoft and Netflix each fell around 1%.
April's consumer price index showed an 8.3% jump, higher than the 8.1% increase expected by economists polled by Dow Jones. The price surge remained near the 40-year high pace of 8.5% seen in March. Core CPI, which does not include food and energy prices, gained 6.2% compared to expectations of 6%. On a monthly basis, headline CPI rose by 0.3% and core rose 0.6%.
On the earnings front, shares of Coinbase slumped more than 23% after the Crypto exchange posted its latest quarterly results. Investors are looking ahead to reports from Walt Disney, Rivian and Beyond Meat after the bell.
Treasury prices gained, with yields slumping to 2.96% from Tuesday's 3%. Treasury prices and yields move in opposite directions.
Oil prices hiked $5.26 to $105.02 U.S. a barrel.
Gold prices recovered $9.70 to $1,850.70 U.S. an ounce.