(AP) — Stocks were mixed in early trading Friday, but the S&P 500 is still on pace for its third weekly gain in a row.
The S&P 500 gave up an early gain and was little changed after the first hour of trading. The Dow Jones Industrial Average was also little changed and the Nasdaq Composite rose 0.2%. With the exception of the Dow, the indexes are on pace to close the week higher.
Investors were relieved to see Thursday that a much-anticipated inflation report showed that a big rise in consumer-level inflation last month was mostly attributed to temporary factors. That could mean less pressure on the Federal Reserve to pull back on its measures supporting the economy. The Fed holds its next meeting on interest rate policy next week.
A significant share of May’s rise in consumer prices was tied to the sale of used cars, which is largely attributed to purchases by rental car companies beefing up their fleets as people return to traveling.
Bond yields have moved lower this week despite reports showing more strength in the economy and possible signs of inflation. The yield on the 10-year Treasury note was trading at 1.46%, down from 1.57% a week ago.
Dave & Buster’s rose 1% after the gaming and restaurant chain posted results that were well above analysts’ expectations.