Indexes are a mixed bag as investors weigh inflation data

NEW YORK, May 31 - The S&P 500 and Nasdaq posted losses for the week on Friday, breaking their five-week winning streaks, as investors digested an inflation report and assessed when the Federal Reserve might begin cutting interest rates.The technology sector , opens new tab dipped.

"It's coming through when you look at the sector performances in the market. ... Consumer discretionary is down at the bottom of the list of sector performers today." According to preliminary data, the S&P 500 , opens new tab gained 44.53 points, or 0.85%, to end at 5,280.01 points, while the Nasdaq Composite , opens new tab lost 2.06 points, or 0.01%, to 16,735.02. The Dow Jones Industrial Average , opens new tab rose 595.78 points, or 1.56%, to 38,707.26.

Among gainers, Zscaler , opens new tab jumped after the security solutions provider forecast fourth-quarter results above estimates.

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