Wall Street is edging back from its record heights after a disappointing report said inflation was worse last month.

Canada's main stock index edged down at open on Thursday following a record-breaking previous session, as hotter-than-expected U.S. inflation data undermined interest rate cut hopes.

Stock futures retreated on Thursday after a report on wholesale-price inflation came in much hotter than expected. The July PPI rose 0.9%, well above economists' expectations for a 0.2% increase. A reading on core-price growth also showed an increase of 0.

US stock futures hovered around the flatline as Wall Street awaited another pulse check on inflation after Tuesday's tepid figures sent rate-cut bets and markets soaring.

U.S. stock futures were slightly higher early in Europe after Tuesday’s inflation reading cemented expectations for the Fed to resume cutting rates.

Gold prices edged higher on Tuesday after U.S. inflation data sustained expectations of Federal Reserve interest rate cuts, while attention turned to other key economic data due this week.

Canada’s main stock index climbed on Tuesday, buoyed by mild US inflation data that strengthened expectations for a potential interest rate cut by the Federal Reserve in September. The mining sector was the top gainer for the TSX,