Wall Street mixed as CPI data sparks rate hike timing doubts

U.S. consumer prices moderated in April, data showed, but the so-called core consumer price index, which strips out food and energy costs, posted its largest gain since January 2013. The data comes a few hours ahead of Fed Chair Janet Yellen's take on the economy that investors will peruse for clues on the timing of a rate hike. While the Fed, which has a 2 percent inflation target, is broadly expected to raise interest rates this year, the timing of the hike has kept the market on tenterho