From Nasdaq:

U.S. stocks closed little changed on Thursday amid reports of higher inflation and strong labor market growth. Treasury yields fell, offsetting some losses. After opening higher, the S&P 500 erased initial gains and ended at 4,780.28. Meanwhile, Microsoft briefly overtook Apple as the world’s most valuable company, and Citigroup fell due to $3.8 billion in combined charges and reserves. Annual US inflation was higher than expected in December, with Americans paying more for shelter and healthcare. The number of people filing new claims for unemployment benefits unexpectedly fell last week to 202,000. Equities were largely affected by reports of inflation and employment figures, holding off potential losses. Fed officials have pushed back on potential rate cuts. Microsoft’s shares rose, and Apple shares fell. Most of the S&P 500’s 11 major sectors declined, with only energy and technology in positive territory. Other banks such as JPMorgan, Bank of America, and Wells Fargo all fell ahead of earnings reports on Friday. (Reporting by Chuck Mikolajczak; Editing by Richard Chang)



Read more: US STOCKS-Wall Street little changed after inflation, labor market data