U.S. equities closed with mixed results Thursday as investors absorbed a hotter-than-anticipated inflation report and prepared for the Federal Reserve’s next policy move. The Dow Jones Industrial Average declined 0.3 percent while the technology-heavy Nasdaq Composite advanced 0.6 percent, buoyed by gains in large-cap tech names.

The latest Consumer Price Index release showed inflation running above consensus forecasts, raising questions about the timing of potential rate cuts. Market participants now await the Fed’s statement for clearer signals on the path of monetary policy.

Energy markets softened, with crude-oil futures slipping, and the U.S. dollar strengthened against a basket of major currencies as traders positioned ahead of the announcement. Volatility measures remained elevated, reflecting uncertainty around both inflation trends and the central bank’s reaction function.