the us stock market is again experiencing a cautious session wednesday as investors await more clarity from president joe biden on the debt ceiling crisis biden is expected to deliver remarks on the debt ceiling at 130 pm et the us inflation rate for april was 49 year on year versus the 5 expected supporting premarket gains in stocks until profittaking behavior resumed later bluechip stocks in the dow jones industrial average fell 05 underperforming all other averages the sp was unchanged for the day after climbing as much as 08 at open while the nasdaq 100 index rose 07 and then held gains small caps in the russell 2000 gained 03 the national federation of independent business small business optimism index released on thursday showed confidence dipping to a 10year low in april carson groups ryan detrick sees a silver lining in the cloud the last time the nfib small business optimism index was this low was in january 2013 the analyst said that was right at the tail end of the fiscal cliff drama and it also wasn’t the worst time to be bullish on stocks he said adding that the sp 500 gained 30 that year commonwealth financial network cio brad mcmillan is hopeful about the near term while we do have headwinds the current economic slowdown and adjustment in interest rates could put the economy and markets in a better place over time we may see economic resilience as those improvements continue he said wednesdays trading in major us equity etfs in midday trading on wednesday the spdr sp 500 etf trust spy was flat at 41103 the spdr dow jones industrial average etf dia fell 05 to 33405 and the invesco qqq trust qqq rose 068 to 32370 according to benzinga pro data the technology select sector spdr fund xlk and the real estate select sector spdr fund xlre were the best performing sectors for the day up 1 and 07 respectively the energy select sector spdr fund xlk was the underperformer declining 13 followed by the financial select sector spdr fund xlf down 09 the mortgage bankers association reported a 63 rise in mortgage application in the week ended may 5 up from a negative 12 in the previous week the bureau of labor statistics released its consumer price inflation report for april with headline cpi coming in at 49 annually and core cpi dropping from 56 to 55 both indices advanced at a 04 monthly pace as expected the energy information administration reported an increase in us crude oil inventories by 2951 million barrels in the week ending may 5 2023 compared to market estimates of a 917000barrel decline see also best futures brokers datadog inc ddog rose 72 on headlines about the companys integration with openai airbnb inc abnb plunged close to 97 following analysts cutting price targets on earnings results catalent inc ctlt dropped nearly 5 hitting lows from march 162023 after analysts cutting companys price target   upstart holdings inc soared nearly 33 following the release of positivethanexpected quarterly results   american express inc fell 24 being the worst performer among dow jones components   rivian automotive inc rose over 4 on betterthanexpected firstquarter earnings   those reporting after the close include beyond meat inc  nutanix inc  robinhood markets inc and walt disney company  crude oil fell 12 with a barrel of wtigrade crude dropping to 7257 the united states oil fund etf uso was 09 lower to 6426 per share treasury yields fell with the 10year yield dropping 7 basis points to 345 and the twoyear yield down 9 basis points to 394 the ishares 20 year treasury bond etf tlt was 08 higher for the day the dollar slightly weakened with the us dollar index which is tracked by the invesco db usd index bullish fund etf uup down 01 the eurusd pair which is tracked by the invesco currecyshares euro currency trust fxe ticked 01 higher to 10970 european equity indices closed in the red with the frech cac 40 leading losses down 08 the ishares msci eurozone etf ezu was 13 lower  gold rose 03 to 2029oz the spdr gold trust gld rose 03 18849 silver fell 06 to 2542 with the ishares silver trust slv falling 05 to 2337 per share bitcoin btcusd rose 2 to 27883 read next how to trade us cpi the top 5 megacap gainers and losers following last 3 inflation reports