Major stock indexes rose, rebounding at least temporarily from their worst week since 2020.
The S&P 500 was up 2.5% to 3,765.42 during midday trading.
The Dow 30 increased 1.9% to 30,449.50.
The Nasdaq was up 2.9% to 11,111.04.
The yield on a 10-year Treasury bond jumped 1.9% to 3.3%
The price of gold slid 0.2% to $1,837.60.
The price for a barrel of oil tumbled 1.4% to $111.05.
Electric vehicle maker Rivian Automotive Inc. (Nasdaq: RIVN) in Irvine rose 13% to $29.65 apiece for a market cap of $26.1 billion, following the tech-heavy Nasdaq higher. Rivian shares have risen 8% in the past week, despite a string of manufacturing and other challenges.
Medical device maker Inari Medical Inc. (Nasdaq: NARI) rose 6.6% to $64.94 apiece for a market cap of $3.5 billion. Piper Sandler has initiated coverage on Inari Medical with an “overweight” rating and a price target of $100, investor website Benzinga.com said earlier in the day.