US stocks end flat amid inflation fears

US stocks closed Thursday steady as markets assessed data showing persistent inflationary pressures in the world’s largest economy, casting a shadow over prospects for the Federal Reserve to cut interest rate.

The Dow Jones Industrial remained unchanged at 44,911 points.

The broader S&P 500 Index was flat at 6,468 points, with the Nasdaq Composite keeping flat at 21,710 points.

In Europe, the STOXX Europe 600 index added 0.55% to 553.87 points, with most of the sectors demonstrating positive performance.

Germany’s DAX closed 0.80% up at 24,377 points. Similarly, France’s CAC gained 0.85% to 7,870 points, and FTSE advanced 0.15% to 9,177 points.

In Japan, the Nikkei 225 shed 1.45% to 42,649 , while the broader TOPIX index fell 1.10% to 3,057.

Brent crude futures for October delivery rose 1.84%, or $1.21, to $66.84 a barrel.

US West Texas Intermediate (WTI) crude futures for September delivery gained about 2.10%, or $1.31, to $63.96 a barrel.

December gold futures for the yellow metal fell 0.73%, or $25.1, to $3,383.20 per ounce at settlement.

Data released today showed that the annual US producer price inflation accelerated to 3.3% in July from around 2.4% in June, marking the fastest pace since last February. This raised doubts over the Federal Reserve’s resumption of interest rate cuts despite mounting expectations.