Stocks Rise as Investors Await Inflation Data and Fed Minutes While Oil Prices Slide

Stocks rose on Wednesday as investors assessed hotter-than-expected inflation data and awaited more on Thursday while looking to Fed minutes for interest rate outlook.

September's Consumer Price Index, out Thursday, is expected to show headline inflation slowed to 3.6% annually. Core inflation likely rose 4.1% over last year.

Oil prices continued sliding, with crude futures below $84 and Brent futures just above $86, easing supply impact fears.

Small caps remain under pressure as debt concerns persist, with Russell 2000 flat in 2023 while S&P 500 up 13%.

Corporate earnings recession expected to be over as Q3 projections call for flat growth after Q2's 6% decline. Q4 expected up 9%.