All three of Wall Street’s main indices ended higher when Wednesday trade wrapped up in New York earlier this morning.

At the end of trade, the Nasdaq was up 0.6%, the Dow rose by 1%, while the S&P 500 ended 0.7% higher to close at a new record high.

So what was behind Wall Street’s positivity? Interest rates, of course!

Specifically, meeting minutes from the US Federal Reserve that showed a “substantial majority” of officials supported the 0.5 percentage point rate cut at its September meeting.

But it wasn’t the minutes alone that sent US stocks higher — investors are waiting with bated breath for September’s inflation data, which will be coming out overnight.

Inflation is expected to show signs of further cooling, with economists predicting the annual inflation rate to come in at 2.3% — down from the current 2.5% — which could pave the way for another rate cut by the Fed next month.

(Just don’t expect another supersized cut — 0.25 percentage points is the current consensus.)