The SPDR S&P Bank ETF (NYSEMKT: KBE) rose 2.9% while the Utilities Select SPDR ETF (NYSEMKT: XLU) lost 1.1%. 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%. 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.