Most U.S. stocks rose Tuesday following an encouraging update on inflation, though drops for Eli Lilly and other influential stocks kept indexes in check. The S&P 500 rose 0.1% as three out of every four stocks in the index climbed.

European stocks and U.S. futures rose on Tuesday as a sell-off in bond markets moderated, although investors remained cautious ahead of U.S. inflation data on Wednesday and the start of U.S. President-elect Donald Trump's second term in office next week.

Global market focus on Wednesday is on the U.S. consumer inflation index, which will be out at 8:30 a.m. ET. Economists polled by Dow Jones see headline CPI rising 0.3% on a month