Inflation Signals Rise, Major Market Indices Remain Flat

Major market indices, including the S&P 500 and Dow Jones, remained flat as new data showed an uptick in consumer prices, signaling higher inflation. The Nasdaq Composite fell due to profit-taking from a July tech rally. Penn Entertainment's stock spiked after announcing an exclusive sports betting deal with ESPN, while Disney's stock rose after reporting mixed Q3 results. Meme stock AMC Entertainment Holdings saw a spike in shares after reporting earnings, while EV manufacturer Rivian Automotive and hydrogen fuel cell company Plug Power Inc. experienced losses. Cannabis stocks, including Canopy Growth and Curaleaf Holdings, dropped due to financial struggles and missed expectations. In the week ahead, Home Depot, Cisco Systems, and Walmart will report earnings, and data on retail sales and minutes from the latest FOMC meeting will be released.