Financial stocks were higher in Tuesday afternoon trading, with the NYSE Financial Index rising 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.9%.

The Philadelphia Housing Index was down 0.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.1%.

Bitcoin (BTC-USD) was falling 1.8% to $80,257, and the yield for 10-year US Treasuries climbed 4.5 basis points to 4.455%.

In economic news, the US seasonally adjusted consumer price index jumped by 3.8% in April from 3.3% in the prior month, according to data released Tuesday by the Bureau of Labor Statistics, compared with the 3.7% consensus. Core CPI, which excludes food and energy prices, climbed by 2.8% from 2.6%, versus expectations for 2.7%.

The CPI increased 0.6% in April, as expected, following a 0.9% increase in the previous month. Core CPI gained 0.4%, higher than the consensus estimate for a 0.3% increase. Core CPI rose by 0.2% in March.

In corporate news, the Department of Justice said Tuesday it secured a settlement with PayPal (PYPL) under which the company must launch a new Small Business Initiative that excludes criteria based on national origin, race or other protected characteristics. PayPal shares rose 1.2%.

JPMorgan Chase (JPM) Chief Executive Jamie Dimon said Tuesday on Bloomberg TV that financial markets may be showing "a little bit too much exuberance" given current inflation risks and geopolitical tensions. JPMorgan shares were up 1.6%.

Carlyle (CG) and Yum China (YUMC) are among the companies seeking to acquire Jardine Matheson restaurant unit, which runs KFC and Pizza Hut chains in Hong Kong, Taiwan, and other Asian locations, in a deal worth around $400 million, Reuters reported. Carlyle shares added 0.8%.