Stock market today: Indexes end mixed as investors brace for August inflation report

• US stocks continued to rebound modestly, though the Dow slipped.
• Investors are waiting for the consumer price report on Wednesday.
• JPMorgan led a slide in bank stocks after easing its earnings optimism.

US stocks ended mixed Tuesday ahead of the August consumer price index report due out Wednesday morning.

The S&P 500 and tech-heavy Nasdaq climbed modestly, while the Dow fell over 90 points.

This week, all eyes are on the consumer inflation report for last month, which will be a key input for interest rate policy ahead of the Federal Reserve's meeting next week.

Most investors anticipate a 25 basis point rate cut, but any shock in the inflation data could shift that outlook in favor of a steeper cut. Odds of a 50 basis point jumped close to 60% after August's weaker-than-expected nonfarm payroll report before shifting again to favor a smaller reduction.

Thursday's producer price index data will also contribute to Fed rate cut outlooks.

Ahead of each report, Tuesday's presidential debate between Donald Trump and Kamala Harris could also sway markets.

Among Tuesday's notable stock moves, JPMorgan led a bank sell-off, after the Wall Street giant struck a note of caution concerning its future earnings. Shares in the bank fell over 5%. Ally Financial stock also fell as much as 19% and closed down more than 17% after its CFO said the bank was seeing the financial health among its borrowers worsen.

Here's where US indexes stood at the 4:00 a.m. closing bell on Tuesday:

• S&P 500: 5,495.52, up 0.45%
• Dow Jones Industrial Average: 40,736.96, down 0.23% (-92.63 points)
• Nasdaq composite: 17,025.88, 0.84%

Here's what else happened today:

• JPMorgan chief Jamie Dimon says stagflation risk is not "off the table."
• 3 reasons why stock market likely won't see new highs anytime soon, according to Wells Fargo.
• Nvidia shares could double in coming years, portfolio manager says.
• The best week to buy a home this year is around the corner, Realtor.com reports.
• Oil prices have tanked to their lowest level in three years. Here's why.
• Apple will reach a $4 trillion market cap next year, thanks to the iPhone 16, Wedbush Securities says.

In commodities, bonds, and crypto:

• West Texas Intermediate crude oil dropped 3.84% to $66.08 a barrel. Brent crude, the international benchmark, fell 3.27% to $69.49 a barrel.
• Gold gained 0.52% to $2,546.1 an ounce.
• The 10-year Treasury yield fell five basis points to 3.648%.
• Bitcoin increased 1.o2% to $57,512.88