US stocks today: Wall Street traded on a more stable note on Tuesday after a US inflation report came in better than economists had anticipated, helping calm investor sentiment despite a continued surge in oil prices amid fears that the United States and Iran could slide back into a full-scale conflict.The S&P 500 edged up 0.1 per cent, recouping a small part of the previous session’s 0.8 per cent decline. By 9:35 a.m. Eastern time, the Dow Jones Industrial Average was down 96 points, or 0.2 per cent, while the Nasdaq Composite gained 0.4 per cent.The market drew support from declining bond yields after data showed US consumer prices rose 3.5 per cent in June compared with a year earlier, reflecting higher costs for gasoline, food and other everyday items, according to an AP report.Although inflation remained above levels most would consider comfortable, the reading was lower than May’s 4.2 per cent and below economists’ forecast of 3.9 per cent for June. The softer-than-expected data eased concerns that the Federal Reserve may need to tighten monetary policy further.Higher interest rates help contain inflation but also tend to slow economic activity and weigh on the value of a wide range of financial assets.Following the inflation release, traders sharply lowered expectations of another rate increase by the Federal Reserve at its policy meeting later this month. According to CME Group data, the probability of a rate hike dropped to below 17 per cent from nearly 42 per cent a day earlier.The decline in bond yields also raised hopes of lower borrowing costs for mortgages and other loans, providing support to housing-related stocks.Builders FirstSource, a supplier of countertops, windows and other construction materials, rose 1.9 per cent, while homebuilder Lennar advanced 1.5 per cent.Technology shares, particularly chipmakers, also recovered after recent weakness, helping steady the broader market. The sector has experienced sharp swings in recent weeks amid concerns that valuations had climbed too far on optimism surrounding artificial intelligence.Micron Technology gained 4.4 per cent and Nvidia rose 0.6 per cent. In the previous session, the two stocks had been among the biggest drags on the S&P 500 after falling 4.4 per cent and 3.5 per cent, respectively.Despite the improved inflation data, significant risks remain. The conflict in the Middle East continues to threaten shipping through the Strait of Hormuz, the narrow waterway that carries crude oil from the Persian Gulf to global markets.Brent crude, the international benchmark, climbed another 3.5 per cent to USD 86.18 a barrel. After surging nearly 10 per cent on Monday, the benchmark has returned to the level seen before the United States and Iran reached their interim agreement to suspend hostilities in the middle of last month.Investors are also turning their attention to the corporate earnings season, with companies beginning to report their April-June quarter results and provide updates on profitability.