Indices were mostly flat today as traders waited for key inflation data to be released on Friday.

May’s core personal consumption expenditures price index (PCE), which is the Fed’s preferred measure of inflation, is expected to rise 0.1% month over month and 2.6% annually.

Traders are hoping for a cooler-than-expected reading to help influence The Fed to lower interest rates by the end of the year, especially after multiple Fed members gave hawkish claims this week.