An afternoon pullback left stock indexes on Wall Street mixed Thursday, erasing most of their morning gains fueled by another encouraging report about inflation. The S&P 500 closed 0.1% lower. The Nasdaq also fell, while the Dow Jones Industrial Average rose slightly. Investors weighed new data showing inflation at the wholesale level slowed more than economists expected in July. That bolstered hopes that inflation may be close to a peak and that the Federal Reserve will be less aggressive about raising interest rates than feared. Stocks pared their gains after Treasury yields climbed. The Walt Disney Co. rallied after reporting stronger quarterly results than expected.
The S&P 500 fell 2.97 points, or 0.1%, to 4,207.27.
The Dow Jones Industrial Average rose 27.16 points, or 0.1%, to 33,336.67.
The Nasdaq fell 74.89 points, or 0.6%, to 12,779.91.
The Russell 2000 index of smaller companies rose 6.01 points, or 0.3%, to 1,975.26.
For the week:
The S&P 500 is up 62.08 points, or 1.5%.
The Dow is up 533.20 points, or 1.6%.
The Nasdaq is up 122.36 points, or 1%.
The Russell 2000 is up 53.43 points, or 2.8%.
For the year:
The S&P 500 is down 558.91 points, or 11.7%.
The Dow is down 3,001.63 points, or 8.3%.
The Nasdaq is down 2,865.06 points, or 18.3%.
The Russell 2000 is down 270.06 points, or 12%.