Nasdaq 100 Ekes Out Another Record While S&P 500’s Climb Stalls

The US stocks rally lost some steam Wednesday with the S&P 500 Index ending the day flat after Federal Reserve Chair Jerome Powell told lawmakers that officials are struggling to determine the toll of tariffs on inflation.

The US stock benchmark closed the session unchanged in New York after swinging between small gains and losses, while the technology heavy Nasdaq 100 Index edged up 0.2% to log another all-time closing high. The tech benchmark reached the milestone Tuesday for the first time since February as a combination of robust fundamentals and easing geopolitical tensions boosted the appeal of the growth-focused gauge.