Dow jumps 285 points as traders try to extend comeback from big sell-off

• U.S. stocks rose on Wednesday as traders tried to extend a rally that began on Tuesday following a recent sell-off.

• The Bank of Japan indicated that it will pause interest rate hikes in the near term, boosting investor sentiment.

• Major stock indices, with the Dow Jones up about 300 points.

U.S. stocks rose on Wednesday after the Bank of Japan issued guidance on interest rates and traders tried to extend the rally in stocks. All three benchmark indexes rose, with the Dow Jones Industrial Average rising more than 300 points.

The Bank of Japan’s deputy governor said the central bank will not raise interest rates amid heightened market volatility, easing investor concerns about Get rid of the pregnancy tradeJapan’s recent interest rate hike helped fuel a global asset selloff earlier this week, as traders previously borrowed cash at ultra-low interest rates in Japan to deploy it elsewhere.

“Today’s announcement by the Bank of Japan to pause interest rate hikes suggests that the damage from the carry trade unwinds has yet to be seen, with many hedge funds and others potentially still in a vulnerable position,” said John Lynch, chief investment officer at Commercia Wealth Management, though he noted that the firm still expects “more volatility” in stocks.

Investors are also watching whether the rally in stock prices has the potential to continue after the sharp decline in indexes through Monday.

“Given the VIX is so high, we don’t think investors need to rush into new money right now,” Michael Landsberg, chief investment officer at Landsberg Bennett Private Wealth Management, said in a note. “We would avoid investing in technology and industrials as this correction and increased volatility continue.”

Here’s where U.S. stock indexes stood shortly after the opening bell at 9:30 a.m. Wednesday:

Here’s what’s happening today:

In commodities, bonds and cryptocurrencies:

• West Texas Intermediate Crude oil prices rose 1.98% to $74.65 per barrel. Brent crudeThe price of a barrel of Brent crude oil rose by 1.82% to $77.87.

• gold Gold rose by about 0.51% to $2,401.80 per ounce.

• The yield on the 10-year US Treasury note rose 5 basis points to 3.942%.

• Bitcoin It rose 2.2% to $57,284.

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