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The S&P 500 inched lower Thursday as Wall Street digested fresh inflation data.
The Dow Jones Industrial Average faltered 237.1 points to 38,224.41.
The much-broader index faded 21.6 points to 5,139.04.
The NASDAQ slipped 11.77 points to 16,158.59.
The early stages of earnings season continue Thursday, with CarMax falling more than 7% after disappointing on both top and bottom lines. The unofficial start to the period commences with big bank earnings from JPMorgan, Wells Fargo and Citigroup on Friday.
The producer price index reading for March came in below estimates, providing some relief after Wednesday’s selloff on a faster-than-expected rise in prices for consumer goods and services. Wholesale prices rose 0.2% in March, while economists polled by Dow Jones expected 0.3% growth. Core CPI, which excludes food and energy, increased 0.2%, in line with forecasts.
Prices for the 10-year Treasury hesitated, raising yields to 4.58% from Wednesday’s 4.55%. Treasury prices and yields move in opposite directions.
Oil prices lost 69 cents to $85.52 U.S. a barrel.
Gold prices brightened $14.50 to $2,362.970 U.S. an ounce.
