Wall Street gets back to climbing WSOC TV [Video]

NEW YORK — (AP) — U.S. stock indexes are rising Wednesday after the latest update on inflation appeared to clear the way for more help for the economy from the Federal Reserve.

The S&P 500 gained 0.7% and is on track to break its first two-day losing streak in nearly a month. The Dow Jones Industrial Average was edging down by 33 points, or 0.1%, as of 11:15 a.m. Eastern time, and the Nasdaq composite climbed 1.5% and was heading for a record.

Treasury yields held relatively steady in the bond market as expectations built that Wednesday’s inflation data will allow the Fed to deliver another cut to interest rates at its meeting next week.

Traders are betting on a 96% probability of that, according to data from CME Group, up from 89% a day before. If they’re correct, it would be a third straight cut by the Fed after it began lowering rates in September from a two-decade high. It’s hoping to support a …