As for individual stocks, Fossil Group (NASDAQ: FOSL) nearly doubled on news of a turnaround, and Chipotle Mexican Grill (NYSE: CMG) investors cheered the announcement of the company's new CEO. Stocks shrugged off news of higher inflation and rising interest rates Wednesday, and the Dow Jones Industrial Average (DJINDICES: ^DJI) and the S&P 500 (SNPINDEX: ^GSPC) both surged more than 1%. "Brian is a proven world-class executive, who will bring fresh energy and leadership to drive excellence across every aspect of our business," said founder, Chairman, and current CEO Steve Ells in the press release.