Producers of metals and other raw materials were more or less flat after inflation data.
The Labor Department reported that its index of consumer prices rose 3.2% in February from a year earlier, compared with the average economist target of 3.1%.
"On net, we view the underlying details as largely favorable for our outlook for further disinflation as the miss relative to our expectations came from surprise increases in core goods prices, while services inflation decelerated.
We doubt deflation in core goods prices has ended and, in turn, view softer services inflation as a favorable development," said economists at brokerage Bank of America Global Research, in a note to clients.
Archer Daniels Midland said it's under investigation by the Justice Department, adding to scrutiny over the grain processor's accounting practices.
Gold futures fell 1% to $2160.40 an ounce, snapping a record-breaking winning streak.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
03-12-24 1658ET
