Major indexes were slightly lower Thursday morning after a couple of lackluster days for the U.S. stock market that followed a big post-election rally, as investors await comments this afternoon from Federal Reserve Chair Jerome Powell.

The S&P 500 was virtually unchanged in early trading and still near its all-time high set on Monday. The Dow Jones Industrial Average was up 41 points, or 0.1%, as of 9:50 a.m. Eastern time, and the Nasdaq composite was 0.

Shares rose in European trading after a retreat in Asia on Thursday following a report showing inflation in the U.S. was roughly as expected last month.