U.S. inflation ticked higher in October, but stable core price pressures and tame month-on-month gains prompted a sigh of relief on Wall Street and likely supported bets for an end-of-year interest rate cut from the Federal Reserve.

Don't look for the Federal Reserve to start making big promises on further monetary-policy easing after the October reading of the consumer-price index matched market expectations but showed plenty of price stickiness,

CPI inflation rose to 2.6% in October, higher than the 2.4% in September, though in line with projections. There is an indication that the probability of a pause in rate cuts has risen.