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 Dow and the S&P 500 ended slightly higher on Wednesday while the Nasdaq lost ground after October data showed consumer prices rising in line with expectations, adding support to bets that the U.S.

The consumer price index rose 0.2% in October for the fourth straight month, and advanced 2.6% on an annual basis.

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.