Major U.S. stock indexes finished Friday with uneven results as traders absorbed the latest inflation report and recalibrated expectations for Federal Reserve policy. The data added a fresh layer of uncertainty to markets already focused on when the central bank might begin cutting interest rates.

Investors have been watching inflation closely for signs that price pressures are cooling enough to support easier monetary policy. The new reading did not deliver a clear answer, leaving market participants to balance hopes for lower borrowing costs against the risk that rates stay elevated for longer.

The mixed close reflected that caution, with some sectors finding support while others lost ground. Even as the week ended without a broad market direction, the release reinforced how sensitive equities remain to economic data and the Fed’s next move.

For now, traders appear to be treating each inflation update as a possible shift in the policy outlook, a dynamic that is likely to keep volatility elevated as the market waits for more clarity from upcoming economic reports.