Inflation accelerated slightly for the month of October, sparking concern the Fed could pause its interest rate-cutting cycle in January.

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.

Investors are assessing whether the post-election rally is about to stall and what Donald Trump's Cabinet picks mean for policy.

S&P 500 futures are down 0.1%. Dow Jones Industrial Average futures are dipping 0.2%. Nasdaq 100 futures are falling 0.1%. On Tuesday, the Dow Jones Industrial Average fell 382 points, or 0.86%, to 43,

The five-day election rally sputtered on Tuesday as the market turned its attention toward incoming economic data. Some parts of the Trump trade maintained momentum, with crypto and FX traders cheering on the president-elect's policies.