Wednesday's inflation reading, while ticking up to a 2.6% yearly rate as expected, continues to hold above the Federal Reserve's 2% target. Combining that with the easing of financial conditions on the heels of a powerful rally in the stock market in early November could drive the Fed to cut rates only one more time before taking a pause,

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.