Stocks Closed Lower Amid Consumer Price Data

U.S. stocks closed lower on Tuesday, as a report on consumer prices showed signs inflation is perking up. The Dow Jones Industrial Average dropped 104.90 points, or 0.58%, to 18,011.14. The S&P 500 fell 12.92 points, or 0.61%, to 2,091.50. The Nasdaq Composie was down 16.25, or 0.32%, to 4,994.73.

Amazon.com Inc. said the regulatory approval it received last week to test-fly its delivery drones in the U.S. was already irrelevant when it arrived: Regulators approved an aircraft Amazon is no longer testing.

Whiting Petroleum Corp. on Tuesday priced its offering of 35 million shares at $30 a piece, a 22% discount to its closing price Monday. The stock offering, which will close Friday and could bring in about $1 billion in for the company, is in addition to $1.75 billion in convertible senior notes Whiting is offering.

U.S. aviation regulators on Tuesday unveiled a new policy to speed up approval for the use of commercial drones in the United States under certain conditions.

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