US equity indexes traded mixed as April consumer prices rebounded less than forecast, while annual inflation eased to the lowest since February 2021.

The Nasdaq Composite jumped 1.7% to 19,021.9, and the S&P 500 rose 0.8% to 5,893.5. The Dow Jones Industrial Average fell 0.5% to 42,211.2. Technology, consumer discretionary, and communication services led the gainers intraday. Healthcare, consumer staples, and real estate included the trio of decliners.

The consumer price index rose 0.2% in April, compared with a Bloomberg-polled consensus that called for a 0.3% increase. Prices fell 0.1% in March, representing the first monthly drop since May 2020.

Annually, inflation cooled to 2.3% last month from March's 2.4%, which was the Street's estimate for April. The latest figure was the smallest 12-month increase since February 2021, according to the Bureau of Labor Statistics on Tuesday.

Most US Treasury yields advanced intraday, with the 10-year up 3.8 basis points to 4.50% and the two-year rate higher by 1.5 basis points to 4.02%.

In company news, UnitedHealth Group (UNH) suspended its full-year outlook Tuesday amid higher-than-expected medical costs, while the health insurer said Andrew Witty has stepped down as chief executive due to "personal reasons." Its shares sank 16% intraday, the worst performer on the S&P 500 and the Dow.

West Texas Intermediate crude oil futures surged 2.9% to $63.75 a barrel.