It was a mixed finish to a strong month for stocks as investors weighed an encouraging inflation update against another round of disappointing tech earnings and a selloff in several mega-cap names.
Starting with the inflation data. Ahead of the open, the Bureau of Economic Analysis said the Personal Consumption and Expenditures (PCE) Price Index, which measures consumer spending, was up 0.3% from March to April, matching what was seen the month prior and arriving in line with economists' predictions. The annual increase in the PCE index was also unchanged at 2.7%.
