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 percent, and the Nasdaq composite slipped 0.3 percent.
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 percent, to 5,985.38.
The Dow Jones Industrial Average rose 47.21 points, or 0.1 percent, to 43,958.19.
The Nasdaq composite fell 50.66 points, or 0.3 percent, to 19,230.74.
The Russell 2000 index of smaller companies fell 22.47 points, or 0.9 percent, to 2,369.37.
For the week:
The S&P 500 is down 10.16 points, or 0.2 percent.
The Dow is down 30.80 points, or 0.1 percent.
The Nasdaq is down 56.04 points, or 0.3 percent.
The Russell 2000 is down 30.27 points, or 1.3 percent.
For the year:
The S&P 500 is up 1,215.55 points, or 25.5 percent.
The Dow is up 6,268.65 points, or 16.6 percent.
The Nasdaq is up 4,219.39 points, or 28.1 percent.
The Russell 2000 is up 342.30 points, or 16.9 percent.
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