Stocks fluctuate as sentiment and inflation data impact market.

Stocks opened higher but lost gains in late morning trade after consumer sentiment data showed an increase in inflation expectations. The S&P 500, Dow Jones Industrial Average, and Nasdaq were all down by more than 0.2%. The ongoing debt ceiling negotiations continue to be closely monitored by investors. The University of Michigan's consumer sentiment index dropped nearly 6 points from April to May as the debt ceiling fight weighed on the economic outlook held by many Americans. Fed governor Michelle Bowman said inflation data hasn't yet made it clear the Fed is done raising rates for this cycle.