Major US stock indices closed higher on Wednesday as investors welcomed a sharp decline in oil prices, easing concerns around inflation and input costs.
The Dow Jones Industrial Average climbed 612 points to close at 49,910, marking a gain of 1.24%.
The tech-heavy Nasdaq Composite advanced 512 points to 25,839, up 2.02%, led by strong buying in major technology shares.
Meanwhile, the S&P 500 rose around 106 points to 7,365, registering an increase of 1.46%.
In commodities markets, US crude oil prices fell by more than $6, with West Texas Intermediate settling at $95.45 per barrel.
The decline in oil prices provided support to equity markets, as lower energy costs are often viewed as a positive signal for inflation expectations and corporate profitability. Investors also continued to monitor economic data and interest rate expectations amid ongoing volatility across global markets.
Input WAM
