Still, the market indicates a 37.9% chance that the Federal Reserve will keep interest rates steady next month. Trump's policies are expected to have a potentially inflationary impact, and the market is debating whether interest rates will remain higher for longer as the Fed is again forced to confront rising prices.

On a "core" basis, which strips out food and energy prices, CPI is forecast to have risen 3.3% over last year in October, unchanged from September's increase. Monthly core price increases are expected to clock in at 0.3%, also in line with the September gain.

Market sentiments are high after Donald Trump’s resounding win and Federal Reserve's quarter-point interest rate cut

Global trends, several macroeconomic indicators, and the last batch of the financial earnings for the September quarter will drive investors in the week, analysts said. Experts pointed out that the trading sentiment of foreign investors and economic trends will also have an impact on equity markets.