Stocks Edge Lower Ahead of Inflation Data; UnitedHealth and Applied Materials Fall on Regulatory Actions, Bitcoin Surges

• U.S. stocks closed slightly lower on Wednesday ahead of key inflation data that could influence Fed rate cut expectations • Evidence of stubborn inflation and a resilient economy have caused markets to dial back expectations for the Fed's first rate cut • UnitedHealth fell nearly 3% and was a drag on the Dow after a DOJ antitrust investigation was reported • Semiconductor equipment company Applied Materials lost over 2% on news of an SEC subpoena • Bitcoin surged towards $64,000 before paring gains, lifting crypto-exposed firms Coinbase and Marathon Digital