Most U.S. stocks rose following an encouraging update on inflation, but drops for Eli Lilly and some other influential stocks kept indexes in check. The S&P 500 edged up 0.1% Tuesday, and three out of four stocks in the index were higher.

Drops for Eli Lilly and other influential companies are weighing on U.S. indexes Tuesday, even though most of the market is rising following an encouraging update on inflation.

Eli Lilly & Co. (LLY) shares rose 0.3% premarket Wednesday, bouncing slightly after Tuesday's steep 6% plunge — the worst session for the stock in nearly four years. The selloff followed the drugmaker's disappointing fourth-quarter (Q4) revenue guidance,