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

U.S. stock indexes are split on Monday as drops for Nvidia and other Big Tech companies work against gains for oil-and-gas producers. The S&P 500 was virtually flat in late trading after erasing an earlier fall of 0.

Wall Street will navigate a series of data releases tied to inflation this week as bond markets continue their months-long selloff.

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.

Asian shares are mixed after gains for oil and gas producers helped offset drops for Nvidia and other Big Tech companies on Wall Street.