Stock market today: Dow, S&P 500, Nasdaq rise as oil slips, Fed rate hike pacifies markets' inflation worries

US stocks rose in premarket trading on Thursday as oil prices edged lower and an expected Fed rate hike on Wednesday offered some relief that the central bank was working to contain inflation. The Dow Jones Industrial Average (^DJI) rose 0.7%, while the S&P 500 (^GSPC) climbed 1.1%. The tech-heavy Nasdaq Composite (^IXIC) jumped 1.6%, rebounding from a post-Fed-hike slump on Wednesday. (^DJI ) Go deeper with AlphaSpace 51,787.25 +325.35 (+0.63%) As of 1:20:25 PM EDT. Market Open. ^DJI^GSPC ^IXIC Stocks recovered as investors assessed Federal Reserve Chairman Kevin Warsh's hawkish rhetoric, which analysts said helped restore the Fed's credibility on inflation.