According to Yahoo News, US stocks experienced growth on Wednesday, even as inflation rates surpassed expectations. Consumer prices increased by 3.7% year over year in August, which is higher than the estimated 3.6% and up from July's 3.2% increase. Core inflation also rose by 4.3%, in line with forecasts. The Bureau of Labor Statistics attributed the accelerated inflation rate to rising gas and shelter prices.

Despite the higher inflation, traders largely expect the Federal Reserve to maintain interest rates at their current levels during their next policy meeting. The CME FedWatch tool indicates a 97% chance that the Fed will keep rates within the 5.25%-5.5% target range, the highest they have been since 2001. Independent Advisor Alliance's chief investment officer, Chris Zaccarelli, believes that the market can rally into the year-end as long as the economy remains resilient and inflation does not re-ignite.

US indexes experienced growth shortly after the opening bell on Wednesday, with the S&P 500 up 0.09%, the Dow Jones Industrial Average up 0.17% (57.44 points), and the Nasdaq Composite up 0.13%. In commodities, bonds, and crypto, West Texas Intermediate crude oil increased by 0.15% to $88.91 a barrel, Brent gained 0.16% to $92.26 a barrel, gold slipped 0.04% to $1,912.84 per ounce, the yield on the 10-year Treasury bond rose two basis points to 4.29%, and Bitcoin inched higher by 0.34% to $26,145.