Despite inflationary fears driving the 10-year Treasury note to its highest level since November 2019, stocks managed to walk away with wins on Tuesday. The Dow added 371 points and scored its fourth-straight win, while both the S&P 500 and Nasdaq logged solid gains of their own, as traders worked through another round of corporate earnings. Meanwhile, the Cboe Volatility Index (VIX) registered its third-straight loss.

Investors largely brushed off a big jump in the U.S. trade deficit for December, as they continued to wait for the Labor Department's consumer price index (CPI), which is due out on Thursday. 

The Dow Jones Average (DJI - 35,462.78) added 371.7 points or 1.1% for the day. Amgen (AMGN) led the gainers with a 7.8% pop, while Chevron (CVX) paced the laggards with a 1.5% drop.

The S&P 500 Index (SPX - 4,521.54) rose 37.7 points or 0.8% for the day. Meanwhile, the Nasdaq Composite (IXIC - 14,521.54) gained 178.8 points, or 1.3% for today's session.

Lastly, the Cboe Volatility Index (VIX - 21.44) shed 1.4 points or 6.2% for the day.

GOLD NABS THIRD-STRAIGHT WIN DESPITE STRONGER U.S. DOLLAR

Oil prices were lower on Tuesday, hitting their lowest level in roughly one week. Traders are still monitoring nuclear deal talks between the U.S and Iran, though easing tensions at the Russia-Ukraine border were likely weighing down black gold today. March-dated crude shed $1.96, or 2,2%, to settle at $89.36 per barrel for the day.

Meanwhile, gold prices notched their third-consecutive gain and best close in roughly three weeks. The precious metal brushed off a stronger U.S. dollar and rising Treasury yields, as traders continued to bet on the Federal Reserve's interest rate hikes. In turn, April-dated gold added $6.10, or 0.3%, to close at $1,827.90 per ounce.