World stocks were mixed on Wednesday following Wall Street’s mostly positive performance before key U.S. inflation data that could influence the pace of market-boosting rate cuts by the Federal Reserve.

The S&P 500 edged higher while the Nasdaq dipped after a volatile session on Tuesday as investors gauged inflation data and braced for quarterly earnings reports to justify stock valuations and the strength of the U.

Wall Street indexes fell as investors focused on upcoming inflation data and earnings reports. The Fed is expected to cut rates by less than previously forecast. The yield on the 10-year Treasury note also remained high.