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

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.

Inflation was in-line with expectations, leading investors to solidify bets for another quarter-point Fed rate cut in December.

Shares were mixed in Asia on Thursday after a lackluster finish on Wall Street following a report showing an uptick last month in inflation in the U.S. The dollar was trading at 156 Japanese yen, up from 155.