The S&P 500 has marked gains for the fourth consecutive day, edging closer to its record high, after a lighter-than-expected inflation reading. The recent Personal Consumption Expenditures (PCE) report revealed only a slight increase in consumer prices for September, with core inflation holding at 2.8%. However, consumer spending has stagnated, indicating that inflation remains a concern despite signs of moderation. As investors anticipate a potential Federal Reserve rate cut, stock futures in Wall Street open steady, reflecting cautious optimism ahead of crucial economic data releases.