Stocks finished mostly higher on Wednesday, as investors brushed over another hotter-than-expected inflation report for April. An outperforming tech sector helped assuage inflation fears and higher energy prices that rattled the broader market to start the week. The Nasdaq and S&P 500 both finished with healthy gains and tapped fresh all-time highs. The Dow, however, finished quietly in the red, snapping a three-day win streak.
Commodities Slip Amid Geopolitical Uncertainty
Oil prices moved lower Wednesday as traders weighed the shaky Middle East ceasefire and looked ahead to a key meeting between President Trump and China's Xi Jinping. June-dated West Texas Intermediate (WTI) settled 1% lower at $101.16 per barrel.
Gold prices extended their pullback Wednesday, as inflation fears tied to the war pressured rate-cut expectations and digest Trump's summit details. June-dated gold futures fell 0.2% to $4,695.40.
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