By Will Horner

U.S. stocks wobbled Tuesday, while bitcoin prices edged lower after a period of volatile trading.

The S&P 500 slipped 0.1%, while the blue-chip Dow Jones Industrial Average fell 30 points, or 0.1%. The Nasdaq Composite added 0.1%, with technology stocks outperforming for a second consecutive day.

Stocks jumped to start the week, as recent comments from Federal Reserve officials helped ease concerns that rising inflation could stamp out growth or prompt the central bank to suddenly tighten policy.

"The comments we have had from Fed speakers have told the market exactly what it wants to hear: that they are not concerned about the inflation data and that it hasn't changed their plan to be very cautious," said Hugh Gimber, a strategist at J.P. Morgan Asset Management.

Bitcoin prices edged lower following several days of whipsaw trading for cryptocurrency markets. Bitcoin fell 1.1% to $37,659. Investors felt reassured during the recent episode that more traditional asset classes haven't been harmed by bitcoin's volatile trading, said Mr. Gimber.

"With all the volatility we have had, it is encouraging to see broader markets are still focused on the economic fundamentals," he said.

New data on the U.S. housing market indicates home-price growth climbed in March to the highest level in 15 years. Strong demand for housing continues to outpace supply. The S&P CoreLogic Case-Shiller National Home Price Index showed a double-digit annual increase for the fourth straight month.

After the opening bell, shares of Moderna rose nearly 2.2% after the drugmaker said its Covid-19 vaccine was effective in children between the ages of 12 and 17.

Lordstown Motors plunged nearly 18% after the electric-truck startup said it was facing higher-than-expected costs and cut its 2021 production forecast. AutoZone slipped 0.3%, despite news the auto-parts retailer's sales beat expectations.

U.S. consumer confidence data for May is also set to be released at 10 a.m. ET.

Brent crude oil, the global oil benchmark, fell 0.1% to $68.31 a barrel. Gold, a typical hedge against inflation, edged down 0.2% to $1,880 a troy ounce.

U.S. government bonds yields fell. The yield on the benchmark 10-year U.S. Treasury note declined to 1.592% from 1.608% Monday. Yields move inversely to prices.

Overseas, the Stoxx Europe 600 rose 0.3%, led by its tech sector, which jumped 1.7%.

In China, the Shanghai Composite Index jumped 2.4%, its biggest one-day move since October, bringing it to its highest closing level in three months. The nation's currency rose 0.2% to 6.41 yuan per dollar, its strongest level in three years.

Chinese authorities have voiced concerns in recent days about rising prices for raw materials such as iron ore and copper, which has helped soothe investors' concerns about inflation, said Steven Leung, executive director of institutional sales at UOB Kay Hian in Hong Kong.

Japan's Nikkei 225 rose 0.7%, while in Hong Kong, the Hang Seng gained 1.8%.

Joanne Chiu and Julia Carpenter contributed to this article.

Write to Will Horner at William.Horner@wsj.com

(END) Dow Jones Newswires

05-25-21 1138ET