Investors are weighing what a reported gradual rollout of Trump tariff hikes could mean for inflation and the Fed.

Investors are gearing up for December's crucial consumer price index to determine the direction of Fed policy.

Drops for Eli Lilly and other influential companies are weighing on U.S. indexes Tuesday, even though most of the market is rising following an encouraging update on inflation. The S&P 500 was down 0.

Asian stocks retreated on Monday after U.S. stocks fell as good news on the job market raised inflation worries. Markets in Japan were closed for a holiday. U.S. futures dropped while oil prices surged more than $1 a barrel after President Joe Biden’s administration expanded sanctions against Russia’s critically important energy sector over its war in Ukraine.

U.S. stock indexes were split as gains for oil-and-gas producers helped offset drops for Nvidia and other Big Tech companies