Stocks ended narrowly mixed Wednesday in muted trading with many investors waiting for macro news next week including monthly inflation reports. The Dow Jones industrial average rose 0.4 percent, the S&P 500 was flat, and the Nasdaq lost 0.2 percent. Bond yields and oil prices rose while the dollar declined.

Megacaps and big technology favorites had a soft day to weigh on the major averages. Weak sectors included chain stores, materials, chipmakers, metals, asset managers and beverages. Holding up better were banks, tobacco, information technology services, aerospace & defense, and utilities.

Tesla was a notable loser on a Reuters report that US prosecutors are probing whether the EV maker misled the public about its vehicles' autonomous driving capabilities. Uber was another featured loser after disappointing quarterly results. On the positive side, Uber competitor Lyft advanced after topping earnings and revenues expectations. Teva Pharmaceutical advanced on a revenues beat.

Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.

Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.