Stocks were mixed Wednesday as investors mulled the latest retail sales report, which came in higher than expected, a day after the release of January's hotter-than-anticipated consumer price index.
The Dow Jones Industrials fell 143.07 points, to break for lunch Wednesday at 33,946.20, weighed down by shares of Chevron and Devon Energy, which slumped with oil prices.
The S&P 500 faded 13.06 points to 4,123.07.
The NASDAQ Composite regained 8.5 points to 11,968.60, boosted by shares of Airbnb, which surged 12% after beating earnings expectations. Gains in Tesla, Rivian and Lucid also helped lead the index higher.
January retail sales rose 3%, while economists polled by Dow Jones anticipated a 1.9% increase. The number signals that the U.S. economy is holding up despite increased rate hikes by the Federal Reserve to tame inflation.
Prices for the 10-year Treasury fell hard, raising yields to 3.81% from Tuesday's 3.75%. Treasury prices and yields move in opposite directions.
Oil prices slumbered $1.47 to $77.59 U.S. a barrel.
Gold prices stepped back $18.70 to $1,846.70 U.S. an ounce.