S&P 500, Dow up after inflation data, Nasdaq falls on rate hike worries

US consumer prices slow in April; inflation still high; Coinbase falls on Q1 revenue slump, net loss

The S&P 500 and the Dow rose in choppy trading on Wednesday as banks and energy shares gained, while the tech-heavy Nasdaq came under pressure after inflation data cemented expectations of aggressive interest rate hikes.

The Labor Department's report showed consumer price index (CPI) rose 0.3% last month, the smallest gain since August, but still above economists' forecast of a 0.2% rise.

The monthly rise in inflation was much smaller compared to the 1.2% surge in March, the largest increase since September 2005.

The so-called core CPI increased 6.2% in the 12-months through April after a 6.5% jump in March, which was largest