U.S. stocks are drifting near their records after the latest inflation update boosted hopes that more help for the economy will arrive next month from another cut to interest rates.

The fierce rally in U.S. stocks since November’s presidential election took a pause on Tuesday as bond yields marched higher and investors awaited a new reading on consumer inflation. Inflation became a major flashpoint issue in the 2024 election,

Core CPI, which excludes food and energy costs and is considered a better indicator of future prices, also matched estimates. The gauge increased 0.3% in October, or the same rate seen in August and September. Annual core CPI advanced 3.3% to meet the consensus estimate.

Markets on Wall Street rose modestly in early trading Thursday as more corporate earnings are released ahead of another inflation update from the U.S. government. Futures for the S&P 500 were up just 0.

On a "core" basis, which strips out food and energy prices, CPI is forecast to have risen 3.3% over last year in October, unchanged from September's increase. Monthly core price increases are expected to clock in at 0.3%, also in line with the September gain.

U.S. stocks are drifting near their records after the latest inflation update boosted hopes that more help for the economy will arrive next month from another cut to interest rates. The S&P 500 was up 0.

Global stocks show mixed performance with European shares rising after Asian declines. The U.S. dollar strengthens, impacting Asian economies, while U.S. inflation data hints at potential Fed rate cuts.