Tech stocks soared on Wednesday, boosted by the prospect of a rate cut at next week's Fed meeting. Tesla stock jumped 6% to an all-time high.

U.S. stock indexes got back to climbing on Wednesday after the latest update on inflation appeared to clear the way for more help for the economy from the Federal Reserve. The S&P 500 rose 0.8% to break its first two-day losing streak in nearly a month and finished just short of its all-time high.

Gold prices could hit $3,000 an ounce by the end of 2025, even if the value of the U.S. dollar continues to rise, Goldman Sachs has said. Increases in the value of America’s currency have typically driven down gold prices in reducing demand for the metal as a safe haven asset.