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.

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.

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.

The S&P 500 is now around 1% lower than the level it traded in the wake of Trump's election win on November 6.

A U.S. stock rally fueled by Donald Trump’s election victory is stumbling, as investors contend with everything from renewed inflation worries to uncertainty over the impact of the president-elect's policies.

U.S. stocks are ticking higher as Wall Street recovers some of last week’s sharp slide. The S&P 500 rose 0.5% in midday trading Monday.

Trading on Wall Street was quietly mixed early Monday ahead of a set of highly-anticipated earnings reports from some of the nation's biggest retailers.