U.S. equities edged higher Wednesday after a sharp reversal in crude prices eased pressure on markets, with the rebound coming hours before the Federal Reserve was expected to raise interest rates for the first time since 2023. The S&P 500 gained 0.4% to 7,615.70, the Dow Jones Industrial Average was effectively flat at 52,113 and the Nasdaq 100 rose 0.9% to 29,198. Technology and semiconductor stocks extended Tuesday's recovery from concerns about AI-related safety risks. West Texas Intermediate crude fell 3.6% to $102.02 a barrel after rising 20.6% this month, while Brent declined 3.3% to $105.17. U.S. Energy Secretary Chris Wright said the outage involving Saudi Arabia's damaged East-West crude pipeline would be a "brief and temporary interruption" lasting days, while Riyadh moved to route additional barrels through Oman. The decline in oil prices helped the 10-year Treasury yield fall 5 basis points to 4.96%, after five consecutive increases had taken it to 5.04% on Tuesday, its highest level since July 2007. Markets priced in about a 93% probability of a 25-basis-point Fed increase to a 3.75%-4.00% target range, with another move expected by December. August retail sales rose 1.2% month over month, the control group used in GDP calculations increased 1.4% and import prices climbed 0.7%, all above expectations. Energy stocks were the weakest sector, while technology led gains. Forgent Power Solutions was the top large-cap performer after reporting stronger quarterly revenue, adjusted EBITDA and bookings. J.B. Hunt Transport Services plunged after warning of lower third-quarter earnings because of fuel and driver-related costs. Permian oil producers also sold off as crude prices reversed.