Most stocks fell on Wall Street as a disappointing inflation report showed prices rose 3.3% last month, higher than expected. Despite this, the S&P 500 hit another all-time high. Traders now doubt a September rate cut by the Federal Reserve, with Treasury yields rising after the data release.

On the downside, Tapestry tumbled due to pressure from tariffs, while Deere fell despite a better profit forecast. Fossil Group, however, jumped after reporting higher profits and Amazon rose on news of same-day grocery delivery. The S&P 500 edged up to 6,468.54 points.

Indexes in Asia and Europe were mixed ahead of a key meeting between U.S. President Donald Trump and Russian President Vladimir Putin on Friday. Wall Street remains cautious as uncertainty looms over interest rates and inflation.

Read more at Yahoo Finance: Most US stocks fall after a disappointing inflation update, but Big Tech keeps Wall Street steady