S&P 500 Tops $5,400 As Federal Reserve Holds Rates Steady, Inflation Eases

U.S. stocks settled mixed on Wednesday, with the S&P 500 settling above the 5,400 level for the first time following the release of inflation data and the Federal Reserve's latest interest-rate decision. The annual CPI inflation rate fell from 3.4% to 3.3% in May, below than the median economist projection of 3.4%. According to Econoday, the economist consensus ranged from 3.3% to 3.5%.