Mixed US Stocks as Inflation Data Fuels Rate Concerns

US stocks closed mixed on Wednesday after fresh inflation data failed to provide any significant easing in price pressures. The latest Personal Consumption Expenditures (PCE) price index showed that inflation rose slightly more than expected in July, leaving investors cautious about the Federal Reserve's next move on interest rates.

The S&P 500 finished almost unchanged at 7,675.70, while the Nasdaq Composite slipped 0.08 per cent to close at 26,130.20. The Dow Jones Industrial Average fell 113.52 points, or 0.21 per cent, to end the session at 53,463.88.

Investor sentiment remained restrained after the latest inflation data was released. While investors continue to look for signs that the Federal Reserve could ease monetary policy in September, persistent inflation is making the outlook less certain.