The Nasdaq advanced on Wednesday, while the S&P 500 and Dow Jones edged lower. Despite the day’s mixed performance, the Nasdaq and S&P 500 posted their second consecutive quarterly gains as softer-than-expected inflation data lowered expectations of an October Federal Reserve rate hike, Reuters reported.
The US Commerce Department reported that the Personal Consumption Expenditures Price Index rose 3.4% year over year in August, below the 3.7% increase forecast by economists polled by Reuters.
