STOCK MARKET NEWS: Nasdaq slides on Micron warning, CPI inflation data on tap

U.S. stocks were trading cautiously early Tuesday morning as investors await the release of July consumer price index reports. 

Stocks wavered Monday as investors reviewed a series of earnings reports for insight into the impact of higher inflation on companies and consumers. 

The S&P 500 fell 5.13 points, or 0.1%, to 4140.06. The Nasdaq Composite retreated 13.10 points, or 0.1%, to 12644.46 after spending much of the afternoon hovering between gains and losses. The technology-heavy index earlier flirted with a potential exit of its bear market. The Dow Jones Industrial Average added 29.07 points, or 0.1%, to 32832.54 points.

Shares of tech giant Nvidia fell $11.96, or 6.3%, to $177.93 after reporting preliminary quarterly revenue below analysts’ forecasts. The company said it expects challenging market conditions to persist in the third quarter. 

Shares of Palantir Technologies lost $1.63, or 14%, to $9.82 after it issued guidance that missed Wall

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