Investors crept back into the market after yesterday's stumble, helped by optimism over interest rates.
The Dow Jones clawed back 65 points of yesterday's losses, at 16,989.
The S&P 500 just about made it back above the 2,000 level, rising seven points to 2,001, while the Nasdaq Composite was 29 points higher at 4,812.
“Given the recent turmoil in China and Janet Yellen citing global risk as a significant problem, this week’s poor retail rates have added weight to doveish Fed members’ case for a delay in rate hikes this year,” said Ed Hooper, at foreign exchange dealer Foenix.
The consumer price index (C.P.I.) fell 0.2%, seasonally adjusted, in line with forecasts.
“Today’s C.P.I. print could steady the pessimistic stance of these members in the short term, but the question remains as to whether the Fed can achieve levels of inflation close to its 2.0 per cent target,” Hooper wondered,
Banking giants Citi and Goldman Sachs kept the banking results ticking over.
Citi (NYSE:C) climbed 1.5% to US$51.44 after its third quarter earnings topped expectations, as they have done in every other quarter this year.
Legal fees plunged to US$376mln from US$1.6bn the year before, contributing in no small part to a 51% increase in pre-tax profit to US$4.3bn.
Investment bank Goldman Sachs's (NYSE:GS) numbers came in short of analysts' estimates, but the market was in forgiving mood, as the shares hardened 15 cents to US$179.66.
Net income dropped by 36% to US$1.43bn, equivalent to US$2.90 a share, from US$2.24bn (US$4.57 a share) the year before.
The median forecast of analysts covering the stock was for earnings per share of US$3.
Cigarettes maker Philip Morris (NYSE:PM) winched up its earnings guidance a smidgen after third quarter revenues and earnings came in ahead of forecasts, sparking a 105 cent rise in the stock to US$85.53.
Philip Morris is now pointing towards adjusted earnings growth over the full year of between 11% and 12%, versus previous guidance of 9%-11%.
The Marlboro ciggies maker said cigarette volume in the quarter was 1.5% lower than the year before at 217.8bn units, as a 2.6% increase in its Eastern Europe, Middle East and Africa (EMEA) region was more than offset by a 6.3% fall in Asia.
On the other side of the healthcare coin, UnitedHealth Group (NYSE:UNH) fell 3.7% to US$117.52 on its third quarter update after declaring net profits not much changed from a year earlier.
Sat-nav company Garmin (NASDAQ:GRMN) was heading in the wrong direction, retreating U$$4.40 to US$32.56, after the company warned last night that the strength of the dollar would hamper revenue growth.