Wall Street ticked higher after the latest update on inflation came in almost exactly as economists expected.

The S&P 500 rose 0.4 percent Wednesday, coming off one of its best days of the year. The Dow Jones Industrial Average added 0.6 percent, and the Nasdaq composite ended basically flat.

Treasury yields were steady after the U.S. government said consumers paid prices for food, gasoline and other things last month that were 2.9 percent higher than a year earlier. The data should keep the Federal Reserve on track to cut its main interest rate in September.

On Wednesday:

The S&P 500 rose 20.78 points, or 0.4 percent, to 5,455.21.

The Dow Jones Industrial Average rose 242.75 points, or 0.6 percent, to 40,008.39.

The Nasdaq composite rose 4.99 points, or less than 0.1 percent, to 17,192.60.

The Russell 2000 index of smaller companies fell 10.87 points, or 0.5 percent, to 2,084.32.

For the week:

The S&P 500 is up 111.05 points, or 2.1 percent.

The Dow is up 510.85 points, or 1.3 percent.

The Nasdaq is up 447.30 points, or 2.7 percent.

The Russell 2000 is up 3.40 points, or 0.2 percent.

For the year:

The S&P 500 is up 685.38 points, or 14.4 percent.

The Dow is up 2,318.85 points, or 6.2 percent.

The Nasdaq is up 2,181.25 points, or 14.5 percent.

The Russell 2000 is up 57.25 points, or 2.8 percent.

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