Drops for Lilly and Big Tech Weigh on Wall Street, Even as Most Stocks Rise NEW YORK (AP) — Drops for Eli Lilly and other influential companies are weighing on U.S. indexes Tuesday, even though most of the market is rising following an encouraging update on inflation.

Asian stocks retreated on Monday after U.S. stocks fell as good news on the job market raised inflation worries. Markets in Japan were closed for a holiday. U.S. futures dropped while oil prices surged more than $1 a barrel after President Joe Biden’s administration expanded sanctions against Russia’s critically important energy sector over its war in Ukraine.

Asian shares are mixed after gains for oil-and-gas producers helped offset drops for Nvidia and other Big Tech companies on Wall Street

Stocks got a boost from a report showing inflation at the U.S. wholesale level wasn’t as high last month as economists expected. It’s an encouraging signal ahead of a report coming Wednesday, which will show how much inflation U.

Asian shares were mixed Tuesday, echoing trading on Wall Street, where gains for oil and gas producers helped offset drops for Nvidia and other Big Tech companies. Japan's benchmark Nikkei 225 index slipped 2.