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.

The dollar is trading at a near two-year high. Follow along for live updates on stocks, bonds and markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite.

Global stock markets diverged Wednesday as traders fret over the impact of Donald Trump's presidency on the Chinese and global economies, with fears that his policies could also reignite US

Global equities stalled Wednesday while bitcoin hit a fresh high as traders fret over the impact of Donald Trump's presidency on the Chinese and global economies amid fears his policies