The U.S. stock market is experiencing a mix of gains and losses as investors react to recent inflation data and upcoming Federal Reserve announcements. Key indices like the S&P 500, Dow Jones, and Nasdaq have seen record highs driven by optimism around potential interest rate cuts, though some volatility remains due to concerns over inflation spikes. Despite a disappointing inflation update leading to some declines, large tech stocks have helped maintain market stability. As the markets await retail earnings and the Jackson Hole Fed meeting, speculation builds regarding the impact of inflation on future policy decisions.