Stocks ticked higher in quiet trading on Wall Street Tuesday, ahead of some potentially market-moving reports scheduled for later in the week.

The S&P 500 rose 27.16 points, or 0.7%, to 3,919.25 after drifting between small gains and losses through the day. The Dow Jones industrial average gained 186.45, or 0.6%, to 33,704.10, and the Nasdaq composite climbed 106.98, or 1%, to 10,742.63.

The stock market has had a positive start to 2023 due to hopes that cooling inflation and a slowing economy may convince the Federal Reserve to ease off its markets-shaking hikes to interest rates.

The next big marker for the market is likely Thursday’s update on inflation at the consumer level. Economists expect it to show U.S. inflation slowed further to 6.5% from 7.1% in November and from a peak of more than 9% in the summer..

Bond yields rose. The yield on the 10-year Treasury, which helps set mortgage rates, climbed to 3.61% from 3.53% late Monday.

European markets fell and Asian markets closed mixed overnight.

Benchmark U.S. crude oil for February delivery rose 49 cents to $75.12 a barrel Tuesday. Brent crude for March delivery rose 45 cents to $80.10 a barrel.

Gold for February delivery fell $1.30 to $1,876.50 an ounce. Silver for March delivery fell 20 cents to $23.67 an ounce and March copper rose 5 cents to $4.08 a pound.

The dollar rose to 132.25 Japanese yen from 131.56 yen. The euro fell to $1.0740 from $1.0750.

Wheat for March fell 10.5 cents at $7.31 a bushel; March corn rose 2.25 cents at $6.55 a bushel, March oats was up 2 cents at $3.41 a bushel; while January soybeans gained 6.5 cents at $15.10 a bushel.

— Associated Press