Wednesday Market Update

*Tech lags as inflation print keeps Fed rate cut on track*

US stocks closed mixed on Wednesday as investors weighed fresh consumer inflation data that looked to keep the Federal Reserve on pace for another rate cut next month.

The tech-heavy Nasdaq Composite (^IXIC) reversed earlier gains to close down about 0.3% while the benchmark S&P 500 (^GSPC) finished the day just above the flatline. The Dow Jones Industrial Average (^DJI) moved about 0.1% higher.

Meanwhile, bitcoin (BTC-USD) prices continued their move to the upside, briefly touching a new milestone earlier Wednesday after topping a record $93,000 before paring gains.

Consumer prices rose largely as forecast in October, with the Consumer Price Index rising 2.6% year over year and 0.2% on a month-over-month basis, both meeting forecasts. Rises in "core" inflation — of 3.3% year over year and 0.3% month over month — also met estimates