Wall Street Yawns at ‘Not Great, No Disaster’ CPI: Markets Wrap
- Stocks, bonds, dollar see small moves on mixed inflation data
- American Air cuts earnings outlook amid higher fuel costs
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Stocks, bonds and the dollar saw small moves, with a mixed inflation report reinforcing speculation the Federal Reserve will pause its rate hikes — but refrain from calling the end of its tightening cycle.
The S&P 500 was little changed. The Dow Jones Industrial Average underperformed. American Airlines Group Inc. led industry losses after cutting its earnings outlook amid a jump in jet fuel prices. Most megacaps rose, with the chiefs of five of the 10 biggest US companies appearing at a closed-door Senate meeting to shape how artificial intelligence is regulated. Apple Inc. fell as China flagged security problems with iPhones.