Investors seemed confident on Wednesday that the consumer price index (CPI), which is due out tomorrow, will confirm inflation is easing and encourage the Federal Reserve to slow the pace of interest rate hikes. The Dow added 268 points, while the Nasdaq scored a fourth consecutive gain -- its longest win streak since September, and the S&P 500 notched a healthy win of its own. Meanwhile, bond yields cooled, with investors rotating back into tech stocks.  

GOLD PRICES BAG FRESH MULTI-MONTH HIGH

Oil prices settled higher yet again on Wednesday to notch a fifth-straight win. Boosting black gold are expectations of strong oil demand in China and a weakening U.S. dollar,as well as fears of a price cap on refined products from Russia. February-dated crude rose $2.29, or 3.1%, to settle at $77.41 per barrel.

Gold prices bounced back to score another eight-month high, with traders keeping an eye on tomorrow's CPI data, which could support the precious metal. February-dated gold rose $2.40, or 0.1%, to settle at $1,878.90 per ounce.

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