LIVE MARKETS-Wall Street indexes close hectic day mixed

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WALL STREET INDEXES CLOSE HECTIC DAY MIXED

After investors spent the session mulling over hot consumer inflation data and comments from Federal Reserve officials and the White House, Wall Street's three main indexes were a mixed bag at the close. Investors now turn their attention to Thursday's January producer price data.

Wednesday started with a sell-off in stocks as data showed U.S. consumer prices increased by the most in nearly 1-1/2 years in January, reinforcing the Fed's message that it was in no rush to resume cutting interest rates.

But stocks had pared some losses by the time Powell himself reiterated that message in an appearance at a congressional committee, though he did caution on reading too much into the high consumer Price Index, reminding us to also watch Thursday's PPI report.

PPI final demand is expected to rise 3.2% year-over-year vs 3.3% in the prior reading, while month-over-month, it's expected to rise 0.3%, up from 0.2% in the prior month.

Atlanta Federal Reserve President Raphael Bostic also said on Wednesday that it was not clear when the Fed could cut rates again given uncertainty around inflation and possible tariff changes, as well as other Trump administration policies.

But the White House said the administration will announce reciprocal tariffs on every country that charges duties on U.S. imports by Thursday. While economists worry that tariffs would fuel inflation and postpone rate cuts, President Donald Trump said rates should be lowered "hand in hand" with his tariffs.

Meanwhile, Trump discussed the war in Ukraine on Wednesday in phone calls with Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskiy, in the new U.S. president's first big step toward diplomacy over a war he has promised to end. The prospects for an end to the war, that raised supply concerns, put pressure on oil prices globally.

Most S&P 500 index .SPX sectors declined. Energy .SPNY was the biggest decliner with U.S. crude settling down 2.7%. Staples .SPLRCS, and communication services .SPLRCL both posted small gains.

Here is your closing snapshot:

(Sinéad Carew, Terence Gabriel)

FOR WEDNESDAY'S EARLIER LIVE MARKETS POSTS:

U.S. STOCKS STEADY A LITTLE WHILE POWELL TALKS - CLICK HERE

AMUNDI INVESTMENT INSTITUTE SEES TARIFFS CUTTING GROWTH, RAISING INFLATION - CLICK HERE

BCA TURNS BEARISH ON BITCOIN - CLICK HERE

DATA HEATWAVE: CPI, MORTGAGE DEMAND - CLICK HERE

WALL STREET OPENS LOWER ON HOT INFLATION - CLICK HERE

U.S. STOCK FUTURES SLIDE, YIELDS SURGE, AFTER HOT CPI - CLICK HERE

LOOKING AT ITALIAN BANKS M&A? HANDLE WITH CARE! - CLICK HERE

"SHORT COVERING IS DONE... BUT DON'T FADE EUROPE YET" - CLICK HERE

RAFT OF POSITIVE EARNINGS KEEP STOXX SWEET - CLICK HERE

EUROPE BEFORE THE BELL: GAINS AHEAD ON SWEET EARNINGS, CPI LOOMS - CLICK HERE

MARKETS LOOK TO US CPI WITH ONE EYE ON TARIFFS - CLICK HERE