Stocks churned to a mixed close on Wall Street after a highly anticipated report showed inflation accelerated across the country last month, but not by much more than expected.
The S&P 500 managed a gain of 0.1% Wednesday after drifting between small gains and losses. The Dow fell 70 points, and the Nasdaq $NDAQ composite rose 0.3%.
While the inflation data was a touch hotter than estimated, economists and investors don’t expect it to change the Federal Reserve’s anticipated track much. The forecast is still for the Fed to keep interest rates steady at its meeting next week. Treasury yields fell.
On Wednesday:
The S&P 500 rose 5.54 points, or 0.1%, to 4,467.44.
The Dow Jones Industrial Average fell 70.46 points, or 0.2%, to 34,575.53.
The Nasdaq composite rose 39.97 points, or 0.3%, to 13,813.59.
The Russell 2000 index of smaller companies fell 14.48 points, or 0.8% to 1,840.84.
For the week:
The S&P 500 is up 9.95 points, or 0.2%.
The Dow is down 1.06 points, or less than 0.1%.
The Nasdaq is up 52.06 points, or 0.4%.
The Russell 2000 is down 10.71 points, or 0.6%.
For the year:
The S&P 500 is up 627.94 points, or 16.4%.
The Dow is up 1,428.28 points, or 4.3%.
The Nasdaq is up 3,347.10 points, or 32%
The Russell 2000 is up 79.59 points, or 4.5%.