Stocks Rally as Crude Oil Weakness Eases Inflation Fears

The US stock market has rebounded today, with major indices rising due to weakness in crude oil prices. WTI crude oil is down over -3% at a 1-week low, easing inflation expectations and pushing bond yields lower. The S&P 500 Index is up +0.40%, the Dow Jones Industrial Average is up +0.13%, and the Nasdaq 100 Index is up +0.94%. This trend is also benefiting chipmakers and AI-infrastructure stocks, which are rebounding from recent weakness.

Nvidia's quarterly earnings results after the close on Wednesday have prompted short covering in chipmakers, with Marvell Technology leading gainers in the S&P 500 and Nasdaq 100. Meanwhile, energy producers and service providers are retreating due to the decline in crude oil prices.