U.S. stocks climbed on Wednesday, rebounding from steep losses in the previous session as investors picked up major technology shares after the pullback.
The Dow Jones Industrials recovered from Wednesday's bruising, taking on 484 points, or 1.4%, to 34,072.46
The S&P 500 regained 57.23 points, or 1.4%, to 4,118.14,
The NASDAQ restocked 192.03 points, or 1.5%, to 13,223.71, as Apple rebounded 2% and Amazon, Microsoft and Facebook all rose more than 1%.
Bitcoin dropped 9% after Elon Musk tweeted that Tesla would halt car purchases using bitcoin for environmental concerns, a surprising reversal for the crypto-supporter. Coinbase, which just went public on the promise of crypto-trading becoming mainstream, dropped 2% following Musk's comments.
The U.S. Labor Department reported that the prices American consumers pay for goods and services accelerated at their fastest pace since 2008 last month with the Consumer Price Index spiking 4.2% from a year ago.
Investors largely shook off another hot inflation report on Thursday, with producer prices in April jumping more than 6% from a year go.
Prices for 10-Year Treasurys regained lost ground, lowering yields to 1.67% from Wednesday's 1.70%. Treasury prices and yields move in opposite directions.
Oil prices lost $1.69 to $64.39 U.S. a barrel.
Gold prices fell $1.80 to $1,821 U.S. an ounce.