The major indexes bounced back on Wednesday, with investors rushing to buy the dip in tech stocks, as the 10-year U.S. Treasury yield took a breather from yesterday's surge. The Dow added 90 points, despite surging to triple digits at its session highs. The S&P 500 also notched a win, while the tech-heavy Nasdaq posted a modest loss, despite Apple (AAPL) and Netflix (NFLX) charging higher. 

In other news, U.S. Federal Reserve Chairman Jerome Powell told the European Central Bank (ECB) on Wednesday that bottlenecks and supply issues were "frustrating," and that they may last into 2022, causing inflation to hold up for longer than previously estimated. Elsewhere, Treasury Secretary Janet Yellen said Congress has until Oct. 18 to raise or suspend the U.S. debt ceiling, as Senate Majority Leader Chuck Schumer attempts to make lawmakers vote today on a bill that would fund the government into December.

The Dow Jones Average (DJI - 34,390.72) added 90.7 points, or 0.3% for the day. Boeing (BA) paced the gainers with a 3.2% pop, while Caterpillar (CAT) fell to the bottom, shedding 1.3%.

The S&P 500 Index (SPX - 4,359.46) rose 6.8 points, or 0.2% for the day. Meanwhile, the Nasdaq Composite (IXIC - 14,512.44) shaved 34.2 points, or 0.2% for the day.

Lastly, the Cboe Volatility Index (VIX - 22.56) fell 0.7 point, or 3% for the day.

STRONGER U.S. DOLLAR PRESSURING GOLD, OIL PRICES LOWER

Oil prices were lower on Wednesday, after weekly U.S. crude inventories rose for the first time in two months. Also pressuring the commodity was a stronger U.S. dollar, as the ICE U.S. Dollar Index surged highest levels in roughly one year. In response, November-dated crude shed 46 cents, or 0.6%, to settle at $74.83 a barrel.

Strength in the U.S. dollar also weighed on gold prices, which settled at their lowed level in roughly six months. Some on Wall Street expect the yellow metal to drop even ahead of the core personal consumption expenditures price index, which is due out Friday. For the day, December-dated gold fell $14.60, or 0.8%, to settle at $1,722.90 an ounce.