The S&P 500 remained largely unchanged on Wednesday after the latest personal consumption expenditures price index indicated that inflation remains elevated.
The broader market traded flat, with the Nasdaq Composite and the Dow Jones Industrial Average also showing little movement.
Meta settled a lawsuit with state attorneys general over allegations that its social media apps harmed young users. Its shares rose by about 1% following the announcement.
The July personal consumption expenditures price index, a key measure of inflation favored by the Federal Reserve, showed a monthly increase of 0.2% and a year-over-year rise of 3.7%. Both figures were slightly higher than economists’ expectations by 0.1%.
Source (CNBC)
