Stocks pared their earlier deficits after this morning's hotter-than-expected consumer price index (CPI) reading sent the market reeling. Investors mused over the Fed's stance on rate hikes as well as an uptick in Treasury yields. The Nasdaq climbed into positive territory by the end of the day, while S&P 500 finished flat, and the Dow closed in the red. Tomorrow, Wall Street will be eyeing January retail sales data. 

GOLD FUTURES BOUNCE OFF MONDAY'S LOW

Oil futures posted its first session loss in three, with March-dated West Texas Intermediate crude dropping $1.08, or nearly 1.4%, to settle at $79.06 a barrel. News that the U.S. Energy Department will release 26 million barrels of oil from the Strategic Petroleum Reserve in 2023 put pressure on the commodity. 

Gold prices rose after yesterday's tumble to a five-week low. April-dated gold added $1.90, or 0.1%, to settle at $1,865.40 per ounce. 

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