U.S. stocks mixed as optimistic inflation bolsters case for rate hike

U.S. stocks were mixed on Tuesday as optimistic inflation data bolstered hawkish arguments for a December interest rate hike, offsetting gains in the retail sector following a wave of strong quarterly earnings from Wal-Mart (N:WMT), Home Depot (N:HD) and several other industry giants. 
On Tuesday morning, the U.S. Department of Labor's Bureau of Labor Statistics said on Tuesday that its Consumer Price Index rose by 0.2% for the month of October, posting mild gains following two previous months of declines. 
The Core CPI, which excludes food and energy prices, rose by 1.9% on a yearly basis, providing indications that long-term inflation could begin to firm in the coming months. 
The Federal Reserve would like to see inflation move toward its target goal of 2% before it raises its benchmark Federal Funds Rate for the first time in nearly a decade. 
A rate hike is largely viewed as bearish for the major indices, as investors depart from their positions in equities to capitalize on higher yields.

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