Stock investors have plenty to focus on, with China's crackdown on companies, Big Tech earnings in the US, and the Federal Reserve meeting.
"Financial markets are plagued by many uncertainties," Rob Sechan of NewEdge Wealth said. "Investor convictions appear to be very shallow."
So far, 88% of S&P 500 companies have beaten earnings per share estimates for the second quarter, according to data provider FactSet.
S&P 500 firms have been beating earnings estimates, cheering US stock market investors despite rising COVID-19 cases.
Concerns over surging Covid-19 cases eased as investors bet on economic stimulus packages and vaccination rollouts to fuel growth.
"While the second-quarter earnings reports have so far beat expectations, this is old news now," an analyst said.
Equity investors had plenty to chew through, with earnings season rolling on and Fed Chair Jerome Powell commenting on inflation and stimulus.
The Dow fell sharply as the yield on the key 10-year US Treasury note slipped for the fourth consecutive day to 1.289%.
Stock market investors are starting to worry that growth may be softer than expected, and are nervous about the delta COVID-19 variant.
US bond yields slid to their lowest level in five months as doubts emerged about the pace of the economic recovery.
The Brent benchmark crude price soared on Tuesday after OPEC+ talks over production increases collapsed in acrimony.
President Joe Biden's deal, which would see more than $1 trillion spent on infrastructure, boosted US and global stocks.
Stock market investors awaited US jobless claims and more comments from Fed officials, while the Bank of England prepared to set monetary policy.
US stock futures edged higher on Monday as investors continued to bet on a rapid economic recovery from coronavirus lockdowns.
"Inflation is being pushed higher on supply chain issues and pent-up consumer spending, all of which should start to ease around the end of summer," an analyst said.
US inflation shot up at the fastest pace in 13 years in May, but stocks rose and bond yields fell, leaving some investors "rubbing their eyes."
Stocks were mixed while the dollar edged higher as investors awaited key inflation data, which is expected to show a jump in prices.