Stocks end mostly higher ahead of inflation data

STORY: U.S. stocks rode a red and green roller coaster on Tuesday, with two of the three major indexes ending higher by the end of the choppy session, reflecting investor uncertainty ahead of much anticipated inflation data due out Wednesday.

The Dow finished a quarter of a percent lower, while the S&P 500 ended a quarter of a percent higher. And the Nasdaq closed up about 1% led by technology and growth stocks, a day after the index fell more than 4%.

Investors were nervous ahead of U.S. consumer price index data set for release on Wednesday.

Ryan Payne is president of Payne Capital Management.

“I think CPI tomorrow is important in the sense that it's going to give us an idea if inflation is actually starting to come down and if it is, that could be a huge catalyst as a positive for market prices to start going up again because inflation is going down, wages are staying up. That's a great combination for the market. On the flip side, if inflation comes in higher than expected, I'd argue again, a lot of that's already priced in."

It was big growth stocks leading the charge in the direction Tuesday, after dragging the indexes down in the previous day's selloff.

Shares of Apple ended 1.6% higher, giving the S&P 500 and Nasdaq their biggest boost.

Meanwhile, bank shares fell, as Treasury yields tumbled.

And Peloton Interactive tumbled nearly 9% as the fitness-equipment maker warned the business was "thinly capitalized" after it posted a huge slide in quarterly revenue and a steep decline in demand for its stationary bikes and treadmills.

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