U.S. stocks rose modestly in choppy trade on Tuesday as investors gauged inflation data and braced for quarterly earnings reports to justify stock valuations and the strength of the U.S. economy. Stocks received an initial lift after a Labor Department report showed the producer price index rose less than expected in December,

U.S. producer prices rose less than expected in December as higher costs for goods were partially offset by stable services prices, suggesting inflation remained on a downward trend after progress had stalled in recent months.

Where prices did climb — warehousing and transportation — points to an inventory build. Upcoming CPI will make the inflation picture clearer.