• US stocks sold off on Tuesday as investors brace for the March CPI inflation report.

• The inflation report will help set the narrative about future interest rate cuts from the Federal Reserve.

• After the CPI report, investors will turn their attention to the start of first quarter earnings results.

US stocks slipped on Tuesday as investors brace for the Wednesday morning release of the March CPI report.

The March consumer price index report is set to be released Wednesday morning, and investors expect a continued decline in inflation. Current estimates suggest year-over-year core CPI will drop to 3.7% compared to the previous reading of 3.8%, while month-over-month Core CPI is expected to drop to 0.3% compared to the prior reading of 0.4%.

Any acceleration in inflation will significantly raise the risk that interest rate cuts from the Federal Reserve are pushed back, and that could have negative implications for stock prices, according to JPMorgan. The bank previewed two other scenarios depending on what the CPI report looks like.

"Tomorrow's March CPI report will be paramount," Macquarie strategist Thierry Wizman said.

After the release of the CPI report, investors will turn their attention to the start of first quarter earnings results, with JPMorgan and Wells Fargo set to kick off earnings season before the market opens on Friday.

Here's where US indexes stood at the 4:00 p.m. closing bell on Tuesday: 

• S&P 500: 5,209.91, up 0.14%

• Dow Jones Industrial Average: 38,883.67, 0.02% (-9.13 points)

• Nasdaq Composite: 16,306.64, up 0.32%

Here's what else happened today: 

• A famed recession indicator is flashing red even as financial markets price in zero chance of a downturn in the coming year.

• You can thank the baby boomers for the strong economy, according to Ed Yardeni, who said their spending in retirement will help lift economic growth going forward.

• Any spike in inflation would send gold prices surging as much as 50% through 2025, according to market veteran Ed Yardeni.

• These 8 stocks will post unexpectedly strong Q1 earnings during one of the best settings for stock-pickers in almost 20 years, according to Evercore.

• The highly volatile Destiny Tech100 fund that invests in private startups plunged 36%. Here are the fund's top 10 holdings.

• Home prices are poised to jump another 5% in 2024 as the market remains even tighter than it was in 2023, according to Capital Economics.

In commodities, bonds, and crypto: 

• West Texas Intermediate crude oil dropped by 1.32% to $85.29 a barrel. Brent crude, the international benchmark, slipped 1.01% to $89.47 a barrel.

• Gold jumped 0.68% to $2,367.00 per ounce.

• The 10-year Treasury yield fell six basis points to 4.367%.

• Bitcoin dropped by 3.86% to $68,865.

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