Stocks Mixed after Inflation Data

U.S. stocks traded mixed in the early trading on Wednesday, as investors digested a reading on May consumer inflation. The Dow Jones Industrial Average lately rose 17.68 points, or 0.07%, to 26,066.19. The S&P 500 was off 0.82 point, or 0.03%, to 2,884.90. The Nasdaq Composite fell 16.39 points, or 0.21%, to 7,806.17.

Crude prices tumbled Wednesday after a report on U.S. crude supplies indicated a sharp jump in inventory, ahead of official data from the Energy Information Administration later. West Texas Intermediate crude for July delivery fell $1.57, or nearly 3%, to $51.70 a barrel. August Brent crude was down $1.65, or 2.7%, to $60.64 a barrel.

The so-called core consumer price index, which removes energy and food costs, rose 2% from a year earlier, below forecasts, according to a Labor Department report Wednesday, while rising 0.1% from the prior month for a fourth-straight time and also missing estimates. The broader CPI increased an annual 1.8%, less than projected.

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