Wall Street stocks gained Tuesday, a day after a massive sell-off drove the Dow Jones Industrial Average into a bear market.
U.S. crude oil prices increased 2.4%, boosting energy stocks. Exxon gained 2.5%. Technology and retail stocks also rose. Apple and Home Depot both gained 1%.
Stocks have slumped for months. With a few days left in September, equities are headed for another negative month as investors fear higher interest rates to battle inflation could cause a recession.
The S&P 500 is down more than 7% in September and has been in a bear market since June, when it fell 20% below its Jan. 4 all-time high.
Global central banks have raised interest rates to make borrowing more expensive and temper inflation.
Last week, the Federal Reserve hiked its benchmark rate, which affects consumer and commercial lending. It's now 3% to 3.25 Starting the year, it was near zero.
The Fed estimated its benchmark rate may be 4.4% by year's end, a full percentage point higher than in June.
Tuesday bond yields varied. The 2-year Treasury yield declined to 4.29 percent from 4.34 percent late Monday. It's at a 2007 high.
Investors await economic updates. Despite increasing food and apparel prices, consumer confidence remains high.