Wall St edges lower as bleak earnings overshadow rise in regional banks

The spotlight will be on the Labor Department's inflation data on Wednesday, which is expected to show the consumer price index likely climbed 0.4% in April after gaining 0.1% in March, while excluding the volatile food and energy components, the CPI likely increased 0.4% last month.

Data points this week will help investors not only gauge whether the Federal Reserve's aggressive tightening cycle - including its most recent 25 basis pointlast week - is working towards tamping down inflation but also if fears of stagflation are founded. "You had the 'good news is good news' on Friday and a rally knowing no one wants to go short into the weekend. You also have the debt ceiling working in the background, which is a concern for people. Until some of these things get resolved, we are not going to see a repeat of the rally anytime soon."to resolve the stand-off over the $31.4 trillion U.S. debt ceiling.Hathaway Inc's Class B shares rose 1.2% after posting a $35.

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Wall Street's still worried despite Friday's fakeout | CNN BusinessStocks saw a comeback on Friday after four consecutive days of declines. But there are several key signs that show the market is far from shedding its worries.
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