U.S. stocks traded mixed-to-lower on Thursday, with the S&P 500 falling from record highs on weaker financials and consumer shares.
The large-cap index edged down 0.1% to 2,495.62, ending a streak of three consecutive record highs.
Five of 11 sectors registered losses on Thursday. Consumer stocks were down across the board, with staples and discretionary components closing off at least 0.4%. Financials, telecom and information technology also headed lower.
On the positive side, utilities stocks rose 0.9%. Shares of energy companies rallied 0.r% as U.S. crude futures hit $50 a barrel for the first time in nearly four months.
In terms of data, U.S. consumer inflation gathered pace in August, rising at the fastest pace in seven months. The Labor Department reported that the consumer price index (CPI) rose 0.4% from the previous month and 1.9% compared with a year earlier.
Core prices, which strip away food and energy products, climbed 1.7% annually, official data showed.
The BOE didn’t raise interest rates on Thursday, but sent a strong signal that rising inflation may warrant a rate hike in “the coming months.”
S&P 500 Index