Mixed Stock Markets Amid High Inflation, Falling Oil Prices

Global stock markets were mixed on Wednesday as oil prices dropped and US inflation remained high.

The S&P 500 finished almost flat, while the Dow slipped 0.2% after a report showed that personal consumption expenditures price index rose 3.7% in July from a year ago, matching June's annual increase.

Heather Long, chief economist at Navy Federal Credit Union, stated that 'the data still gives the Federal Reserve time to wait and see.' It remains near three-year highs, with no improvement seen in July.

European markets, however, closed higher, despite being off their session highs. London lagged as BP and Shell fell due to lower energy prices.