Market participants were breathing a sigh of relief over a July consumer-price index that wasn't as bad as some people feared, but tariff-driven worries aren't over, according to David Russell, global head of market strategy for online brokerage firm TradeStation.

Wall Street took the postponement of the U.S.-China tariff deadline in stride and refocused on inflation numbers arriving Tuesday that may play an outsized roll in the decision by the Federal Reserve about weather to cut rates,

Wall Street's main indexes ended lower on Monday as investors anxiously await inflation data this week to assess the outlook for interest rates and eye U.S.-China trade developments.