Stocks closed mostly lower Tuesday as inventors digested important inflation data in the U.S., as well as big bank earnings from JPMorgan.

Consumer prices in the New York area, including Long Island, rose at a faster pace in June than in May, driven in part by higher costs for child care, housing and groceries, such as meat and eggs.

Canada's annual inflation rate rose to 1.9% in June, meeting analysts' expectations, as increases in the price of automobiles, clothing and footwear pushed the index higher, data showed on Tuesday.

CPI data shows headline and core inflation in line with expectations. Check out my thoughts on financial markets' reaction to CPI data.

The CPI rose 0.3% month-over-month in June, accelerating from May’s 0.1% pace. Year-over-year inflation also jumped to 2.7%, up from 2.4% in May. Core CPI, which excludes food and energy, rose 0.2% in June and came in at 2.9% annually — signs that underlying inflationary pressure remains sticky.

The Labor Department’s consumer price index for June is expected to show that overall inflation rose 2.6 percent from June 2024. That’s up from a 2.4 percent pace in May.

Citigroup (C) boosted its full-year net interest income guidance and now sees 2025 revenue at the high end of its previous guidance. The bank posted beats on both Q2 EPS and revenue. Its services business continued to shine, and banking revenue jumped 23% Y/Y.