Wall Street's main indexes ended mixed following the release of US inflation data that showed price pressures were moderating in April.
Consumer prices rose 4.9% at an annual rate compared to expectations for no change at 5%, the lowest level recorded in 2 years.
This in turn raises hopes that the cycle of Federal Reserve (Fed) interest rate hikes is nearing an end.
However, the US stock market failed to react significantly as sentiment was also plagued by other factors such as the season of earnings reports and concerns over the debt ceiling issue.
Investors continue to follow developments regarding the US debt ceiling which is feared that it will not be able to resolve by the deadline of June 1, causing a 'default' to occur.
Meanwhile, earnings reports continued on Wednesday, with Disney shedding 4.6% after reporting lower-than-expected current earnings per share expectations.
Overall, the Dow Jones Industrial closed in the red by losing 30.48 points to 33,531.34, while the S&P 500 gained 18.45 points to 4,137.63.
However, it is different from the Nasdaq Composite which displayed a better performance by jumping to an 8-month high of 1.115 to 13,347.83.
In addition to the CPI reading, the Nasdaq was also supported by a 4.10% jump in Alphabet after the company rolled out more artificial intelligence for its core search product in response to competition from Microsoft Corp.
The US30 index rose slightly at 33,550 in the Asian session.
