The five-day election rally sputtered on Tuesday as the market turned its attention toward incoming economic data. Some parts of the Trump trade maintained momentum, with crypto and FX traders cheering on the president-elect's policies.

The fierce rally in U.S. stocks since November’s presidential election took a pause on Tuesday as bond yields marched higher and investors awaited a new reading on consumer inflation. Inflation became a major flashpoint issue in the 2024 election,

On a "core" basis, which strips out food and energy prices, CPI is forecast to have risen 3.3% over last year in October, unchanged from September's increase. Monthly core price increases are expected to clock in at 0.3%, also in line with the September gain.

Investors will focus in the coming week on whether inflation trends can help sustain the record-breaking stock rally that has received a boost from Donald Trump's victory in the U.S. presidential race.

Market sentiments are high after Donald Trump’s resounding win and Federal Reserve's quarter-point interest rate cut