NEW YORK (AP) — Stocks closed higher on Wall Street as investors wait for updates on inflation and corporate profits.

The S&P 500 rose 0.7% Tuesday after another quiet day of trading. The Dow rose 316 points, or 0.9%, and the Nasdaq composite rose 0.6%.

The week's main event arrives Wednesday when the government offers the latest update on inflation in consumer prices. The hope on Wall Street is that a continued easing in inflation will convince the Federal Reserve to stop raising interest rates.

Activision Blizzard jumped 10% after a judge ruled Microsoft could move forward on its takeover of the video game maker.