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

Cool wholesale inflation numbers provide only slight relief before Wednesday's release of December Consumer Price Index data.

Asian shares were mixed Tuesday, echoing trading on Wall Street, where gains for oil and gas producers helped offset drops for Nvidia and other Big Tech companies. Japan's benchmark Nikkei 225 index slipped 2.

US stocks gained after cooler-than-expected producer price index data soothed inflation concerns. The numbers on Tuesday showed wholesale inflation rose 0.2% in December on a monthly basis, compared to an estimated 0.4% increase. The reading climbed 3.3% from a year ago, below the projected 3.5% gain.

Wall Street pointed modestly higher ahead of this week’s latest U.S. inflation reports and the unofficial start of earnings season

Drops for Nvidia and other superstar stocks are dragging U.S. stock indexes lower on Monday and keeping Wall Street stuck in its weekslong rut. The S&P 500 fell 0.8% in early trading, coming off its fourth losing week in the last five.

Most U.S. stocks are rising on Tuesday following an encouraging update on inflation, but drops for Eli Lilly and some other influential companies are keeping indexes in check.