Several analysts said today's upturn - 82.06 points by the Dow Jones industrial average, to 3675.41 - reflected a respite in selling by speculators to repay their lenders and enthusiasm over a government report indicating that recent economic growth was not accelerating inflation.

The market has been falling hard since some large investors concluded that rising prices would make bonds and stocks bad investments. Their fears of inflation, aggravated in part by inflation-fighting moves by the Federal Reserve Board, have pushed up interest rates to a point where some analysts wonder if they might hurt the economic recovery.

- The dollar soared against most major currencies, powered by the rebound in the U.S. stock and bond markets. In New York, the dollar closed at 104.30 Japanese yen, up from 103.20 yen Monday, and at 1.7146 German marks, up from 1.6975. In Tokyo Wednesday, the dollar was sharply higher against the yen, trading at midday at 104.40 yen.