Indexes slip ahead of June inflation report | Euro reaches parity with U.S. dollar | Stocks with earnings momentum

Markets seesawed on Tuesday as investors braced the consumer price index report.

VIEW IN BROWSER | SUBSCRIBE TUE, JUL 12, 2022 EVENING BRIEF AS OF TUE, JUL 12, 2022 • 05:03 ET DJIA 30981.33 -0.62% -192.51 S&P 500 3818.80 -0.92% -35.63 NASDAQ 11264.73 -0.95% -107.87 Most Active DOW NAME LAST CHG %CHG AAPL 145.86 +0.99 +0.68% MSFT 253.67 -10.84 -4.10% INTC 37.21 +0.01 +0.03% S&P 500 NAME LAST CHG %CHG AMD 76.36 -0.59 -0.77% AAPL 145.86 +0.99 +0.68% AAL 14.77 +1.34 +9.98% NASDAQ NAME LAST CHG %CHG AMD 76.36 -0.59 -0.77% AAPL 145.86 +0.99 +0.68% AMZN 109.22 -2.53 -2.26% EDITOR'S NOTE Markets seesawed on Tuesday but ended the day with sharp declines as investors braced for June's highly anticipated inflation data due out Wednesday.   The Dow shed about 192 points after rising by as much as 172 points earlier in the session. The S&P 500 and Nasdaq Composite fell nearly 1% after flirting with gains and losses.   In other news, the euro hit parity with the dollar for the first time since 2002 as fears of a recession continue to grow in Europe. All eyes are on June inflation data slated for release on Wednesday. June's consumer price index is anticipated to come in at 8.8% on a year-over-year basis, according to Dow Jones' estimates. That's ahead of May's 8.6% print.   "The June inflation report will be a scorcher and help cement market expectations that the Fed will deliver another massive rate hike at the Fed policy meeting at the end of the month," wrote Edward Moya, senior market analyst with OANDA.   High inflation may persist for another month or two, but could fall quicker than the market anticipates, wrote National Securities' Art Hogan.   "While the headline numbers will likely remain hot, there should be some sequential improvement in the core readings," he said.    After Wednesday's CPI report, the next big test comes with earnings from big banks like JPMorgan Chase, Morgan Stanley and Citigroup, slated for later in the week. Samantha Subin | Associate Markets Reporter @samantha_subin Watch our live stream for all you need to know to invest smarter. TOP NEWS  Dow drops more than 100 points, stocks fall ahead of key inflation report Consumer inflation is expected to have been even hotter in June but it could be peaking Euro reaches parity against the dollar, hits its lowest level against U.S. currency since December 2002 Founders of bankrupt crypto hedge fund 3AC go missing, as investors try to recoup assets In a recession, turn to these stocks with a history of raising dividends Income-seeking investors should look at this energy subsector, experts say Company downgrades are picking up steam as profit outlooks dim Microsoft cuts small percentage of employees as new fiscal year begins These stocks have earnings momentum going into earnings season Covid hospitalizations have doubled since May as omicron BA.5 sweeps U.S., but deaths remain low TOP VIDEO Wolfe Research's Chris Senyek weighs in on whether the SPAC blank-check bubble's burst CNBC PRO These are Goldman's top options trades to take advantage of earnings surprises SPECIAL REPORTS 54% of people can't disconnect from work on vacation–and these professions have the hardest time unplugging Here's how people with high credit scores are using personal loans to build wealth Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS