Wall St falls on dour earnings forecasts ahead of inflation data

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U.S. stock indexes fell on Tuesday as investors turned cautious ahead of a key inflation reading this week, while dour earnings forecasts from companies such as PayPal and Apple supplier Skyworks weighed on the mood.

The action-packed week will see the release of the much-awaited inflation data on Wednesday. The Labor Department's consumer price index is expected to climb 0.4% in April after gaining 0.1% in March.

"It is the CPI print tomorrow, and that's worrying markets, that it could be higher than expected or stickier inflation than expected," said Keith Buchanan, senior portfolio manager at GLOBALT Investments.

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