The Dow settled at its highest level since August on Wednesday, securing a triple-digit gain for its fourth-straight win. The producer price index (PPI) -- which staged its steepest drop since April 2020 in October -- was responsible for much of today's optimism, and helped investors overlook disappointing retail sales data. The Nasdaq inched higher to close at its highest level in more than three months as well, while the S&P 500 saw a minor win of its own despite rising Treasury yields

OIL SNAPS WIN STREAK AS INVENTORIES RISE

Oil prices snapped a four-day win streak on Wednesday, after a more than 17 million-barrel rise in U.S. commercial crude inventories, according to the Energy Information Administration's (EIA) latest report. December-dated West Texas Intermediate (WTI) crude shed $1.60, or 2%, to close at $76.66 a barrel for the day.

Gold prices closed near breakeven, with hopes that the Federal Reserve is done hiking interest rates and a weaker U.S. dollar still providing support. December-dated gold fell $1.40, or 0.07%, to close at $1,965.10 an ounce for the day.

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