Wall Street Mixed as Hot Inflation Data Sparks Fed Rate Cut Uncertainty
• Wall Street stock indexes ended mixed after a hotter-than-expected inflation report raised questions about when the Fed could cut interest rates • Inflation rose 3.4% in December vs a year ago, accelerating from November's 3.1% pace and slightly above economist forecasts • After removing volatile food and energy costs, inflation was more in line with expectations • The data caused Treasury yields and rate cut expectations to fluctuate, but doesn't rule out hopes for cooling inflation and a soft landing • Oil prices rose while bitcoin swung a day after the first bitcoin ETFs launched