CPI beat expectations. IBM crashed 22%. Oil surged. The S&P is barely up

June CPI came in at 3.5% annually, below the 3.8% economists expected, but rising oil prices and an IBM warning capped gains

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U.S. stocks opened mixed on Tuesday after June inflation data came in below expectations, with gains in the S&P 500 and Nasdaq $NDAQ offset by surging oil prices and a steep drop in International Business Machines stock.

The S&P 500 rose 0.3%, while the Nasdaq gained 0.6%. The Dow Jones Industrial Average slipped roughly 0.2%.

June's consumer price index dropped 0.4% from the prior month, holding the year-over-year rate at 3.5% — below the 0.2% monthly decline and 3.8% annual rate that Dow Jones-surveyed economists had........

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