The S&P 500, and Nasdaq snapped their three-day losing streaks today, erasing midday losses. The Dow traded on both sides of the aisle before closing flat, while the tech-heavy Nasdaq logged a triple-digit win as investors sorted through the latest from the Federal Reserve, which released minutes from the Federal Open Market Committee's September meeting this afternoon.

The central bank said it could soon begin gradually tapering its monthly asset-purchase program starting in mid-November. A higher-than-expected jump in the consumer price index (CPI) weighed on stocks for the majority of the day, though an encouraging earnings report from JPMorgan Chase (JPM) offered a possible glimpse into the upcoming earnings season. 

The Dow Jones Average (DJI - 34,377.81) lost 0.5 points unchanged for the day. Salesforce.com (CRM) paced the gainers with a 1.9% pop, while American Express (AXP) fell to the bottom, shedding 3.5%.

The S&P 500 Index (SPX - 4,363.80) added 13.2 points or 0.3% for the day, and the Nasdaq Composite (IXIC - 14,571.63) tacked on 105.7 points, or 0.7% for the day.

Lastly, the Cboe Volatility Index (VIX - 18.64) shed 1.2 points or 6.1%.

OIL HITS SEVEN-YEAR HIGH BEFORE SNAPPING WIN STREAK

Oil prices saw their rally cut short today, though earlier in the day the commodity hit a seven-year high as investors continue to monitor concerns over tightening energy supplies. In turn, November-dated crude lost 20 cents, or 0.3%, to settle at $80.44 a barrel.

The recent inflation reading weakened the U.S. dollar and bond yields, and as a result, gold prices rose to their highest level in roughly one month. December-dated gold rose $35.40, or 2%, to settle at $1,794.70 an ounce for the day.