Stocks trade mixed after inflation data

NEW YORK (AP) -- Stocks traded mixed Tuesday after wholesale inflation rose more than expected in November, led by a surge in energy costs. The increase likely will be discussed as Federal Reserve policymakers begin a two-day meeting on interest rates. The Fed is expected to keep rates unchanged when it releases a policy statement following the meeting Wednesday.

The Labor Department said wholesale prices jumped 1.8 percent last month, more than double the 0.8 percent gain analysts expected. Core inflation, which excludes energy and food, rose 0.5 percent, the biggest increase in more than a year.

A number of investors see a rate hike coming within the next year as the Fed takes a pre-emptive strike to keep inflation at bay. That would help shore up the value of the dollar, but also could trip up a rally that has pushed stocks sharply higher over the past nine months.

Investors also turned cautious after Best Buy said its fourth-quarter profit margins will face pressure as shoppers look for less expensive items. The comments came as the electronics retailer said its third-quarter earnings more than quadrupled.

Stocks fell overseas as the dollar rose against the euro amid continuing worries about Greece's debts and the financial health of Austria's banks.

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