Stocks Mixed as Powell Comments on Persistent Inflation, Geopolitical Tensions Rise

Stocks struggled for direction on Tuesday as investors digested hotter inflation comments from Fed Chair Powell and rising geopolitical tensions. The Dow hovered just above flat while the S&P 500 and Nasdaq edged lower.

Bond yields jumped following Powell stating it will likely take "longer than expected" for the Fed to get inflation back to 2%, given recent hotter data. The 10-year Treasury yield climbed back above 4.6%.

Earnings reports flooded in Tuesday morning from big banks like BofA and Morgan Stanley as well as healthcare giant UnitedHealth and Dow component J&J.

Homebuilder sentiment stalled in April on concerns over rising mortgage rates, which could pressure housing starts going forward. New residential construction fell nearly 15% in March.

Live Nation shares tumbled on a WSJ report that the Justice Department is prepping an antitrust lawsuit against the company behind Ticketmaster over abuse of market power allegations.