Advertisment
Stocks were flat Wednesday despite the release of more encouraging U.S. inflation data.
The Dow Jones Industrial index gained 210.64 points to break for lunch Wednesday at 39,976.48.
The S&P 500 index picked up 25.37 points to 5,459.73.
The NASDAQ regained 60.13 points to 17,247.74.
All three major averages are now above their Aug. 2 closing level, which was the session before the global market selloff on Aug. 5 that appeared to be related to an unwind of the yen carry trade and concerns about economic growth.
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.
