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Stocks opened higher on Wednesday as technology shares continued to bounce back from sharp losses earlier this week.
The Dow Jones Industrials advanced 109.17 points to start Wednesday at 25,395.66, led by gains in Nike.
The S&P 500 recovered 12.65 points to 2,734.83, as energy outperformed.
The NASDAQ regained 31.16 points to 7,232.03.
Wednesday's moves come after a volatile session on Tuesday, with the Dow falling just a touch above 100 points by the close, despite a rise earlier in the session in excess of 100 points.
Shares of Apple rose more than 0.5% despite Guggenheim downgrading the stock. This downgrade comes as UBS cut its 12-month price target on the stock and follows a target reduction at Goldman Sachs. Investors have been worried the company's iPhone sales will slow down in the near future.
Tech-related shares like Facebook and Amazon also rose.
Sentiment was also lifted by a strong quarterly report from retailer Macy's. The company's stock rose 2.5% after its third-quarter earnings topped expectations. Macy's also raised its full year earnings guidance.
Investors also breathed a sigh of relief the latest data showed U.S. inflation is still tame.
The consumer price index rose 0.3% in October — in line with expectations — boosted by higher gasoline prices, used cars and housing. The so-called core CPI, which strips out food and energy costs, missed estimates on an annualized basis, coming in at 2.1%. This is also lower than a previous reading of 2.2%.
Prices for the benchmark for the 10-year U.S. Treasury fell, raising yields to 3.16% from Tuesday’s 3.14%. Treasury prices and yields move in opposite directions.
Oil prices rose $1.31 to $57.00 U.S. a barrel.
Gold prices popped $1.20 at $1,202.60 U.S. an ounce.