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(Bloomberg) Wall Street struggled to gain traction on Thursday, with the bond market digesting another big sale of Treasuries and stocks hovering near records. Bonds fell despite a strong $25 billion auction that reduced jitters about an oversupply. Equities closed little changed after the S&P 500 briefly hit 5,000 for the first time. A sense of caution prevailed as investors positioned for Friday’s consumer-price index revisions thinking about what happened a year ago: The update was significant enough to cast doubt on overall inflation progress. “There is some talk that tomorrow’s CPI revisions could throw cold water on the recent good inflation numbers but this is a wonky number,” said Andrew Brenner at NatAlliance Securities. “We think the next move comes off the CPI number next Tuesday.” Ahead of those figures, investors got a jobless claims reading that added to evidence of a still strong labor market and gave credence to the recent cautious rhetoric from central

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