Analysts expect corporate America to report strong profit growth in the third quarter at a time when worries about supply chain problems and higher prices are affecting businesses emerging from the pandemic. Mega-caps growth names including Facebook Inc FB.O, Amazon.com Inc AMZN.O, Google-parent Alphabet GOOGL.O Microsoft Corp MSFT.O, and Tesla TSLA.O rose, while chipmakers .SOXadded 0.5% after a three days of losses. "Both the Fed and the market are likely to accept that a tight labor market and the persistence of inflation all but confirms that easing off the accelerator is now the right thing to do."