The Dow Jones Industrial Average (^DJI) and S&P 500 (^GSPC) recorded new all-time highs at Wednesday's market close as tech stocks led sector gains for the day.

Yahoo Finance senior markets reporter Josh Schafer explains the trading day's biggest market trends as investors look ahead to the Consumer Price Index (CPI) report for the month September, due out tomorrow, and what inflation data could mean for future interest rate cuts by the Federal Reserve.

To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here.

This post was written by Luke Carberry Mogan.