Stock market today: Global markets follow Wall Street higher ahead of key inflation update

World stocks have advanced after a rally on Wall Street took the Nasdaq composite to a record high. U.S. futures were lower while oil prices gained. Markets in Hong Kong and Seoul were closed for holidays. Investors were reviewing a mixed report on inflation and awaiting an even more important update on consumer prices later Wednesday. On Tuesday, the S&P 500 rose 0.5% and was just shy of its own all-time high. The Dow Jones Industrial Average added 0.3%. The Nasdaq composite climbed 0.8%. Treasury yields edged lower in the bond market following the mixed report on wholesale inflation.