Wall Street closes mixed near record as earnings season and CPI loom

U.S. stocks ended mixed on Monday, October 12: the Dow rose 0.38% to 51,850.55, the S&P 500 slipped 0.06% to 7,807.24 and the Nasdaq fell 0.44% to 27,245.90, with Brent crude above $106 a barrel and September CPI due Wednesday. Washington Times / AP

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Indexes sit near records while oil is above $100. What is the market most likely underpricing going into Wednesday's inflation report?