U.S. stocks jumped on Wednesday after a report showed tame inflation, easing worries about rising prices that have jolted yields higher and unnerved equity investors.

The Dow Jones Industrials leaped 392.47 points, or 1.2%, at 32,225.21

The S&P advanced 25.16 points to move into noon hour at 3,900.60,

UBS hiked its year-end S&P 500 target to 4,250 from 4,100 on Tuesday, representing a near 9% gain from here. UBS turned more bullish on stocks for the year with incoming stimulus and pent-up consumer spending.

The NASDAQ Composite came off its highs of the morning, but still prospered 43.17 points to 13,116.99.

Tesla jumped another 2%. Zoom Video was also 3% higher. Cathie Wood’s flagship active exchange-traded fund Ark Innovation ETF popped another 3% after soaring 10% for its best day ever on Tuesday.

Data out Wednesday morning showed February consumer prices increased 0.4%, matching expectations from economists polled by Dow Jones. The Consumer Price Index gained 1.7% on a year-over-year basis, also in line with estimates.

Prices for 10-Year Treasurys stood still, keeping yields at Tuesday’s 1.54%.

Oil prices tailed off 30 cents to $64.71 U.S. a barrel.

Gold prices dulled $1.30 to $1,715.60.