U.S. stocks rose Wednesday after a three-week slump, as inflation concerns eased over falling oil prices and interest rates.

The Dow Jones Industrial Average rose 435.98 points, or 1.4%, to 31,581.28. The S&P 500 rose 71.68 points, or 1.83%, to 3,979.87, and the Nasdaq Composite was up 246.99 points, or 2.14%, to 11,791.90.

The Nasdaq rebounded from seven-consecutive trading sessions of declines. All three indices are still below their individual 52-week highs.

Investors were buoyed by Fed Vice Chair Lael Brainard's comments Wednesday that the central bank would continue to battle inflation.

"With equities back to June lows and the rates path reset higher, more inflation easing along with decisive EU government intervention to tackle the energy crisis could prompt another bear squeeze," Emmanuel Cau of Barclays wrote in a Wednesday note. "Big picture, we think stocks remain in a tough spot given a poor growth-policy trade-off."

Tech stocks saw strong gains in Wednesday's session. Among the leaders were Twitter (TWTR), which closed at $41.20, up $2.55, or 6.6%, as well as Google parent company Alphabet (GOOG), which gained $3.00, or 2.79%, to close at $110.48.

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