Stock market today: Wall Street churns after highly anticipated inflation data

Stocks are churning in place on Wall Street after a highly anticipated report showed inflation accelerated across the country last month, but not by much more than expected. The S&P 500 was up 0.3% Wednesday after drifting between small gains and losses. The Dow was up 68 points, and the Nasdaq composite was up 0.4%. Financial markets initially swung back and forth after the inflation report's release, but professional investors said they don't expect it to change the Federal Reserve's expected track much. The forecast is still for the Fed to keep interest rates steady at its meeting next week.