U.S. stocks were flat Wednesday as the annual inflation rate cracked 3%, encouraging investors who have been buying up shares following a pullback to start August.
The Dow Jones Industrial index gained 38.85 points to begin Wednesday at 39,804.49.
The S&P 500 index inched ahead 0.22 points to 5,434.65.
The NASDAQ retreated 50.76 points to 17,163.84.
Consumer prices increased 2.9% year over year, down from 3% in June and the lowest reading since 2021, the Bureau of Labor Statistics said on Wednesday. Month over month, prices ticked up 0.2%. Economists polled by Dow Jones expected a 0.2% increase from the prior month and a 3% gain year over year.
Prices for the 10-year Treasury stood still Wednesday, keeping yields at Tuesday’s 3.82%.
Oil prices dipped 45 cents at $77.90 U.S. a barrel.
Gold prices doffed $20.00 to $2,505.90.
