Stocks are closing slightly higher on Wall Street Wednesday as investors shook off a bout of volatility after nearly a week of high volatility.

Major indexes recovered from early losses after the market turned around after Senator Mitch McConnell offered Democrats a short-term extension of the debt ceiling, relieving some of the uncertainty over a possible government shutdown.

The S&P 500 rose 0.4% and the Dow Jones Industrial Average gained 03% while the Nasdaq Composite closed 0.5% higher.

Energy prices are retreating after a strong rally that contributed to renewed inflation fears among investors.