STORY: U.S. stocks spent much of Wednesday wavering between red and green only to finish barely changed, as investors limped toward the finish line of a downbeat month, a dismal quarter, and the worst first-half of the year for the S&P 500 since President Richard Nixon's first term in office.
The Dow posted a gain of 0.27%. The S&P 500 ended down fractionally, while the Nasdaq finished about flat.
Brian Vendig, president of MJP Wealth Advisors, said investors are likely waiting for personal consumption expenditures data on Thursday to see if inflation has eased.
“I think the U.S. stock market today again is looking ahead at the expected PCE indicators tomorrow on inflation and also a little bit of choppiness due to changes in commodity prices around oil. So right now, you know, the market is staying within a range, I think, until we get a little bit more of a consensus view on where inflation is going over the next couple of weeks.”
Market leaders Apple, Amazon.com and Microsoft posted gains, providing some upside muscle to the S&P 500.
Chipmakers led the declines, with Micron and AMD each falling more than 3%, after Bank of America cut its price targets on several chip stocks.
Shares of General Mills jumped after the packaged food company said its sales beat estimates.
And Bed Bath & Beyond sank more than 23.5% after the retailer announced that it replaced its CEO, hoping to reverse a dismal sales slump.