Most U.S. stocks rose Tuesday following an encouraging update on inflation, though drops for Eli Lilly and other influential stocks kept indexes in check. The S&P 500 rose 0.1% as three out of every four stocks in the index climbed.

Asian stocks are mixed after Wall Street’s mostly positive performance ahead of key U.S. inflation data that could influence the pace of the Federal Reserve’s rate cuts

The S&P 500 edged higher while the Nasdaq dipped after a volatile session on Tuesday as investors gauged inflation data and braced for quarterly earnings reports to justify stock valuations and the strength of the U.

Global market focus on Wednesday is on the U.S. consumer inflation index, which will be out at 8:30 a.m. ET. Economists polled by Dow Jones see headline CPI rising 0.3% on a month