Stock market today: Wall Street swings around its records after mixed data on the economy | KLRT [Video]

NEW YORK (AP) — U.S. stocks are swinging around their records Thursday following a mixed batch of data on the economy.

The S&P 500 was 0.3% lower in afternoon trading after wavering between earlier gains and losses. The Dow Jones Industrial Average was down 83 points, or 0.2%, as of 12:40 p.m. Eastern time, and the Nasdaq composite fell 0.3%

The bond market was more decisive, and Treasury yields rose after a report showed inflation was a touch hotter at the wholesale level last month than economists expected. It’s the latest in a string of data on inflation that’s been worse than forecast, which has kept the door closed on earlier hopes that the Federal Reserve could start cutting interest rates this month.

But other reports released in the morning showed some softening in the economy, which kept alive hopes that the long-term trend for inflation remains downward.

Traders are …