US Stock Market Holds Steady Amid Higher Inflation Rate

The US stock market experienced a relatively quiet day of trading after a report showed inflation was higher than expected. The S&P 500 index edged down by less than 0.1% and remains near its all-time high set earlier this month.

The Dow Jones Industrial Average dipped 113 points, or 0.2%, while the Nasdaq composite slipped 0.1%. Several major companies reported earnings, including Nvidia, which saw a slight dip in shares despite strong profit growth expectations.

Abercrombie & Fitch and J.M. Smucker both saw significant gains after reporting stronger-than-expected profits, while Intuit fell 3.2% following its own earnings report.