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- US stocks dropped Tuesday after the January CPI report came in slightly higher than anticipated.
- Headline CPI cooled to 6.4% in January but was above expectations of 6.2%.
- The S&P 500 has gained for the past two trading sessions.
US stocks fell on Tuesday after the January CPI report showed stickiness in inflation, sustaining pressure on the Federal Reserve to keep interest rates at elevated levels.
A third straight win for S&P 500 was in question after stock futures were whipsawed following the first CPI report of 2023. Headline CPI eased to 6.4% year over year from December, but it was slightly higher than the 6.2% consensus estimate from Bloomberg.