Wall Street drifts near record highs after an in-line inflation report

NEW YORK (AP) – 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 S&P 500 was up 0.1% in early trading Wednesday. The Dow Jones Industrial Average was up 62 points, and the Nasdaq composite was up 0.1%. Stocks got support from easing yields in the bond market. The yield on the 10-year Treasury fell to 4.38% from 4.43% late Tuesday. It sank after a report said the inflation that U.S. consumers felt last month was exactly as economists expected.