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.

NEW YORK (Reuters) -A gauge of global stocks fell for a second straight session on Wednesday and longer-dated U.S. Treasury yields rose in choppy trading as investors assessed the latest U.S. inflation data and the path of interest rates from the Federal Reserve.

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.

Stock futures were lower prior to the data. Aggressive buying came into stocks after the data. Buying is aggressive in Trump linked stocks such as Tesla Inc TSLA. Bitcoin was pulling back before CPI was released. Aggressive buying came in after the release of the data.

Retail sales, plus another inflation report, are this week's main remaining economic data releases. Plus, Federal Reserve Chair Jerome Powell is set to speak on the economic outlook, and there are a few earnings still on the slate.

The Dow Jones rose Thursday morning after key inflation data and ahead of Fed Chair Powell's speech. Disney soared on earnings.