Investors Await Economic Data as Tesla Gains on Wall Street

Wall Street's main indexes were muted on Tuesday as investors awaited key economic data that could decide the U.S. Federal Reserve's monetary tightening path, with gains in shares of Tesla capping losses on the S&P 500 and the Nasdaq. Rising oil prices following the OPEC+ group's output cuts have renewed fears about inflation, denting hopes of an end to aggressive interest rate hikes despite recent signs of cooling prices and turbulence in the banking sector. Bets by traders of a 25-basis point rate hike in May stood at 60%, with odds of a pause at 40%, according to CME Group's Fedwatch tool.