U.S. stocks stabilized temporarily after the sharp fall, and energy stocks eye-catching led the stock market to rebound slightly

* The three major stock indexes exerted their strength in late trading, and the 2-year U.S. bond yield rose to a 15-year high;

* The U.S. PPI fell 0.1% in August, the second consecutive month of decline;

* EU upholds antitrust ruling against Google.

　　U.S. stocks edged higher on Wednesday, but were more volatile during the session.

It came a day after the market suffered its worst one-day drop in nearly two years.

　　As of the close, the Dow rose 30.12 points, or 0.10%, to 31135.09 points, the Nasdaq rose 0.74% to 11719.68 points, and the S&P 500 rose 0.34% to 3946.01 points.

　　The U.S. Labor Department reported that the U.S. producer price index (PPI) fell 0.1% in August from the previous month and rose 8.7% from a year earlier.

Excluding the volatile food and energy components, core PPI rose 0.4% in August and was up 7.3% from a year earlier.

　　"Today provided some good news that the economy's supply chain headwinds are starting to abate," said Christopher Rupkey, chief economist at FWDBONDS. "While inflation has not been fully contained, the hope is that the reduction in PPI price pressures will This leads to a lower increase in the goods purchased by consumers.”

The latest fed funds futures show a 75% chance of a 75 basis point hike in September and a 25% chance of a 100 basis point hike.

JPMorgan U.S. economist Michael Feroli said there was less than a one-third chance that Fed officials would raise rates by 100 basis points at a time next week.

"Good drivers don't slam on the gas when they're nearing their destination," he said.

　　U.S. Treasury yields were mixed, with the 10-year U.S. Treasury note down 1.1 basis points to 3.411%, while the 2-year U.S. Treasury note rose 2.8 basis points to 3.782%, its highest level since 2007.

"The continuation of short-term Treasury yields continuing to edge higher suggests that the market believes inflation will continue to weigh on the economy as the lagged effect of rate hikes persists," said Quincy Krosby, chief global strategist at LPL Financial. "A potential rail strike is also an issue. A concern as this will create another supply challenge."

　　“The previous day’s sell-off showed that a sustained rally in equities may require clear evidence that inflation is on a downtrend,” Mark Haefele, chief investment officer at UBS Global Wealth Management, said in a note to clients. With economic and policy uncertainty heightened, we expect markets to remain volatile in the months ahead."

　　Starting in September, the Federal Reserve will shrink its balance sheet to $95 billion a month from $47.5 billion previously, a move some investors fear could increase market volatility and weigh on the economy.

　　Among individual stocks, the Dow Jones Amtrak Index fell 2.7%.

CSX Corp and Union Pacific Corp fell 1.1% and 3.7%, respectively.

Major rail operators have warned that preparations are being made for a shutdown as early as Thursday night, with the 12.01am negotiating deadline on Friday.

They are working on plans to communicate with commuters to direct people to take the bus if the strike is unavoidable.

　　Rising international oil prices pushed the energy sector up nearly 3%, Marathon Oil rose 3.3%, Occidental Petroleum rose 2.9%, and Exxon Mobil and Chevron rose 2.4%.

Starbucks rose 5.5%

. The company expects earnings per share to grow 15% to 20% over the next three years, a sharp increase from its previous forecast, and it expects to resume share buybacks in fiscal 2024.

Tesla rose 3.6 percent

after U.S. President Joe Biden attended the Detroit Auto Show to announce the approval of the first $900 million in bipartisan infrastructure law funding to build electric vehicle charging stations in 35 states.

In addition, local authorities in Germany have indefinitely delayed a vote on Tesla's plans to expand its factory near Berlin.

　　Star technology stocks generally rose, Netflix rose 2.8%, the company expects that the audience with advertising packages will reach 40 million later next year, Amazon rose 1.4%, Apple rose 1.0%, and Google rose 0.5%. Microsoft Corp rose 0.1 percent to reduce a record 4.34 billion euro fine to 4.125 billion euros.

　　The Nasdaq Golden Dragon China Index edged up 0.1%, Pinduoduo and iQiyi rose more than 3%, Alibaba fell 0.6%, Baidu fell 1.9%, and NetEase fell 2.3%.

　　International oil prices fluctuated and rose. The front-month WTI crude oil contract closed at US$88.48 per barrel, up 1.34%, and the Brent crude oil front-month contract closed at US$94.10 per barrel, up 1.00%.

The International Energy Agency, the IEA, cut its forecast for oil demand growth in 2022, forecasting demand growth this year to be 2 million barrels per day, down 110,000 barrels from earlier.

But the IEA said the recent decline in fuel prices is starting to support a recovery in demand.

　　International gold prices weakened, and the COMEX gold futures contract for December delivery on the New York Mercantile Exchange fell 0.5% to close at $1,709.10 an ounce, the lowest closing price since July 20.