U.S. stocks are drifting near their records Wednesday 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 virtually flat in morning trading,

U.S. equity futures edged lower in early Wednesday trading, while Treasury yields moved higher and the dollar steadied, as investors looked to a key inflation reading that could accelerate repricing of the so-called 'Trump Trade' and test the market's solid post-election rally.

U.S. stocks slipped as juice ran out for the torrid “Trump trade” that swept Wall Street following Donald Trump’s presidential victory

Inflation was in-line with expectations, leading investors to solidify bets for another quarter-point Fed rate cut in December.