The Globe and Mail reports in its Wednesday edition that Toronto and the S&P 500 edged higher while Nasdaq dipped after a volatile session Tuesday as investors gauged U.S. inflation data and braced for quarterly earnings reports to justify stock valuations and the strength of the American economy. A Reuters dispatch to The Globe says that stocks oscillated between gains and losses throughout the day. Equities received an initial lift from a Labour Department report that showed the U.S. Producer Price Index rose less than expected in December, although the report failed to materially affect expectations about the Federal Reserve's likely path of monetary policy this year. Investors awaited today's U.S. Consumer Price Index reading, which will further shape expectations for inflation and the Fed. Adding to investor caution, U.S. Treasury yields remained at elevated levels, with the yield on the benchmark 10-year Treasury note at 4.784 per cent, holding near a 14-month high reached on Monday. In Canada, the S&P/TSX Composite Index ended up 52.26 points at 24,588.58. The materials group climbed 1.5 per cent as the price of gold clawed back some of the previous day's decline. Financials also made gains.