Wall Street drifted to a mixed close after an inflation report forced some investors to push back forecasts for when the Federal Reserve will deliver long-sought cuts to interest rates.
The S&P 500 ended down 0.1% Thursday after swinging up and down a few times through the day. The Dow edged up less than 0.1%, and the Nasdaq composite was flat.
Treasury yields also wobbled after the inflation data raised doubts about when the Fed will begin cutting interest rates. Crude oil rose to recover some of its sharp losses from earlier in the week.
On Thursday:
The S&P 500 fell 3.21 points, or 0.1%, to 4,780.24.
The Dow Jones Industrial Average rose 15.29 points, or less than 0.1%, to 37,711.02.
The Nasdaq composite rose 0.54 points, or less than 0.1%, to 14,970.19.
The Russell 2000 index of smaller companies fell 14.80 points, or 0.8%, to 1,955.46.
For the week:
The S&P 500 is up 83 points, or 1.8%.
The Dow is up 244.91 points, or 0.7%.
The Nasdaq is up 446.11 points, or 3.1%.
The Russell 2000 is up 4.31 points, or 0.2%.
For the year:
The S&P 500 is up 10.41 points, or 0.2%.
The Dow is up 21.48 points, or 0.1%.
The Nasdaq is down 41.17 points, or 0.3%.
The Russell 2000 is down 71.62 points, or 3.5%.
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