U.S. stocks drifted to a mixed finish after the latest inflation update boosted hopes that more help for the economy will arrive next month from another cut to interest rates.
The S&P 500 ended little changed Wednesday. The Dow Jones Industrial Average edged up 0.1%, and the Nasdaq composite slipped 0.3%.
Treasury yields were also mixed after a report said the inflation that U.S. consumers felt last month was exactly as economists expected.
That strengthened expectations that the Federal Reserve will cut interest rates for a third time this year in about a month and sent short-term Treasury yields lower.
On Wednesday:
The S&P 500 rose 1.39 points, or less than 0.1%, to 5,985.38.
The Dow Jones Industrial Average rose 47.21 points, or 0.1%, to 43,958.19.
The Nasdaq composite fell 50.66 points, or 0.3%, to 19,230.74.
The Russell 2000 index of smaller companies fell 22.47 points, or 0.9%, to 2,369.37.
For the week:
The S&P 500 is down 10.16 points, or 0.2%.
The Dow is down 30.80 points, or 0.1%.
The Nasdaq is down 56.04 points, or 0.3%.
The Russell 2000 is down 30.27 points, or 1.3%.
For the year:
The S&P 500 is up 1,215.55 points, or 25.5%.
The Dow is up 6,268.65 points, or 16.6%.
The Nasdaq is up 4,219.39 points, or 28.1%.
The Russell 2000 is up 342.30 points, or 16.9%.
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