After the opening bell, the Dow rose 0.5%, as the S&P 500 gained 0.4%. The tech-heavy Nasdaq composite climbed 0.5% in morning trade. The S&P 500 and the Nasdaq closed at record highs on Tuesday as rate-cut odds bolted higher following July inflation data.

Signs that U.S. tariffs on imports have not fully filtered into headline consumer prices came as a relief for investors this week as they seek insight on the impact of trade uncertainty on the economy.