Major averages dropped Friday as Wall Street reassessed what's next for the Federal Reserve's rate-cutting cycle, driving stocks further into the red for the week following a massive advance fueled by Donald Trump's re-election as U.

The Dow and the S&P 500 ended slightly higher on Wednesday while the Nasdaq lost ground after October data showed consumer prices rising in line with expectations, adding support to bets that the U.S.

U.S. stocks drifted to a mixed finish Wednesday after the latest inflation update boosted hopes that more help for the economy will arrive next month through a cut to interest rates. The S&P 500 was nearly unchanged and edged up by less than 0.

U.S. stocks are drifting at the open of trading as the market’s big burst following Donald Trump’s election continues to cool. The S&P 500 added 0.1% in early Thursday trading.