The S&P 500 index experienced a marginal increase of 0.05% to close at 6,836.17 points, despite marking a decline for the second week in a row. The session reflected mixed results among the major US indices, with the Nasdaq dropping by 0.22% to 22,546.67 points and the Dow Jones gaining 48.95 points or 0.10%, closing at 49,500.93 points. This divergence indicates a lack of clear direction in the market as investors react to evolving economic indicators.

In the latest report from the Bureau of Labor Statistics, the Consumer Price Index (CPI), which measures the price change for a basket of goods and services, rose by 0.2% on a monthly basis and 2.4% year-on-year for January. These figures were slightly lower than the forecasts by economists surveyed by Dow Jones, who anticipated a monthly increase of 0.3% and an annual rise of 2.5%. Such data points emphasize the ongoing concerns surrounding inflation and its pressure on consumer purchasing power in the American economy.

Moreover, when excluding the more volatile food and energy prices, the core CPI aligned with expectations, showing a monthly increase of 0.3% and an annual rate of 2.5%. These figures suggest that underlying inflationary trends remain contained, yet the market's response indicates a cautious approach among investors as uncertainty persists regarding future monetary policy and economic growth amid these mixed signals. Overall, this lack of decisive market momentum reflects broader anxieties in the economic landscape, particularly concerning the sustainability of recovery post-pandemic.