Most stocks fell on Wall Street following a disappointing update on inflation.
But gains for Amazon and other influential Big Tech companies helped to mask the losses on Thursday, and the S&P 500 edged up less than 0.1 percent. The Dow Jones Industrial Average and the Nasdaq composite were also little changed.
The hotter-than-expected inflation report forced traders to second guess the widespread consensus that the Federal Reserve will deliver relief next month by cutting interest rates. Treasury yields rose in the bond market. Tapestry, the company behind Coach, sank 15.7 percent after detailing how much profit it could lose from tariffs and duties.
On Thursday:
The S&P 500 rose 1.96 points, or less than 0.1 percent, to 6,468.54.
The Dow Jones Industrial Average fell 11.01 points, or less than 0.1 percent, to 44,911.26.
The Nasdaq composite fell 2.47 points, or less than 0.1 percent, to 21,710.67.
The Russell 2000 index of smaller companies fell 28.98 points, or 1.2 percent, to 2,299.08.
For the week:
The S&P 500 is up 79.09 points, or 1.2 percent.
The Dow is up 735.65 points, or 1.7 percent.
The Nasdaq is up 260.65 points, or 1.2 percent.
The Russell 2000 is up 80.66 points, or 3.6 percent.
For the year:
The S&P 500 is up 586.91 points, or 10 percent.
The Dow is up 2,367.04 points, or 5.6 percent.
The Nasdaq is up 2,399.88 points, or 12.4 percent.
The Russell 2000 is up 68.92 points, or 3.1 percent.
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