US Stocks Bounce Back as Oil Prices Fall and Bond Market Eases

U.S. stocks rebounded on Thursday after a rate hike by the Federal Reserve and concerns about inflation weighed on markets earlier in the week.

The S&P 500 gained 0.9 percent, while the Dow Jones Industrial Average rose 213 points to 0.4 percent, and the Nasdaq composite climbed 1.4 percent as oil prices fell 2.3 percent to $103.38 a barrel from its earlier peak of nearly $110.

The Federal Reserve had raised its main interest rate by a quarter of a percentage point on Wednesday for its first hike in more than three years, signaling at least one more increase may be coming this year and that the Fed may keep the federal funds rate high through next year.