Stocks Mixed as Inflation and Jobs Data Offer Conflicting Signals on Economy

U.S. stocks drifted Thursday following mixed economic reports on inflation and the job market, threatening the market's 4-day winning streak.

Inflation rose slightly more than expected last month, raising worries about the Fed keeping rates high. But underlying inflation trends showed signs of cooling.

Mortgage rates have jumped to 20-year highs as Treasury yields climbed following the reports. Higher rates could slow the economy without more Fed hikes.

Oil prices rallied again, adding pressure on inflation. Airlines fell as fuel costs rose.

Earnings season kicks off with banks reporting Friday. Profit growth expected after 3 quarters of declines.