U.S. stock-index benchmarks on Wednesday switch between small gains and losses as Wall Street equities attempt to extend trade into record territory ahead of the conclusion of the Federal Reserve’s two-day policy meeting, which could offer clues about the pace of monetary tightening. - From MarketWatch
The S&P 500 SPX, -0.09% was trading flat at 2,440, with six of the 11 main sectors trading higher.
The consumer-price index, or cost of living, fell by a seasonally adjusted 0.1% in May, largely thanks to lower gasoline prices, which also depressed retails sales last month.
The dollar fell 0.7% against the Japanese yen USDJPY, -0.96% trading at ¥109.30, while gold futures GCQ7, +0.82% jumped 0.7%, on pace to snap a five-session skid.
The chairwoman is expected to push back hard on the market’s skepticism about the need for another rate increase this year.
The jump came amid news that Tesla’s Model X SUV snagged a five-star safety rating, and as billionaire investor and Tesla bull Ron Baron said the stock could rise by more than 50% by 2018.