"Stocks React to CPI Data and Fed Meeting: Market Updates"

Stocks were mixed in afternoon trading as investors awaited an update on inflation and the Federal Reserve's policy meeting later this week. Microsoft and a group of video game workers at ZeniMax have agreed to union contract language on the use of artificial intelligence, aiming to ensure fair treatment and worker empowerment. Wall Street expects the Fed to hold rates steady, but investors are cautious about the potential impact of rate cuts on the stock market in 2024. Macy's shares surged after receiving a $5.8 billion buyout offer, Occidental Petroleum rose after announcing plans to acquire CrownRock, Cigna gained after backing away from a potential merger with Humana and announcing a major stock buyback initiative, and Coinbase shares dipped as traders locked in profits following a surge in digital currencies.