In a choppy session, equities opened higher and the benchmark S&P 500 briefly surpassed its record closing high of 4,796.56, hit in January 2022, before erasing initial gains.Īfter ending 2023 with a strong rally, stocks have struggled to find upward momentum, with the S&P 500 up only 0.21% on the year, as mixed economic data and Fed officials' comments have led investors to scale back expectations for the timing and size of any rate cuts from the US central bank this year. NEW YORK: US stocks closed little-changed on Thursday as news of hotter-than-expected inflation and signs of labour market strength dampened hopes for early interest rate cuts by the Federal Reserve this year, but a fall in Treasury yields kept declines in check.
