Tuesday saw a rise in US stock indices as a result of unexpected inflation data that altered market expectations for Fed policy.
Prior US statistics revealed that, contrary to analyst expectations, consumer prices increased 3.2% year over year in February after increasing 3.1% in January.
US consumer prices increased by 0.4% on a monthly basis last month, up from 0.3% in January.
With food and energy excluded, core prices increased 3.8% year over year in February, down from 3.9% in January.
The Fedwatch tool indicates that there is a 34.6% chance that the interest rate will remain unchanged at the June meeting, up from 28.4%.
As of 16:52 GMT, the Dow Jones was up 0.2%, or 70 points, to 38,839 in trading, while the S&P 500 was up 0.6%, or 30 points, to 5148 and up 0.8%, or 137 points, to 16,157.
