NEW YORK (AP) — An afternoon pullback left stock indexes on Wall Street mixed, erasing most of their morning gains fueled by another encouraging report about inflation. The S&P 500 closed 0.1% lower Thursday.
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.