US Equity Futures Hovered Near The Flatline Early Thursday, Pausing After The S & P 500 and Nasdaq Composite Set Fresh Intraday and Closing Records Wednesday Amid Rising Confidenze in A SEPTEMBER FED RATE CUT FOLLOWING COLEER JULY CPI. S&P 500, Nasdaq 100, and Dow Futures Were Little Changed as Traers Digosted a Mixed Batch of Earnings and Positioned for Morning Macro Releases.
Cisco Slipped About 1% PREMARKET APTER FISC print. Deere Fell Over 7% After Mixed Full-Year Guidance Weighed on sentiment, Adding to the Cautious Tone Ahead of Data.
The Rally’s Underpinning Remains The “Cooler-Than-Expected” inflation narrative: July CPI Rose 0.2% m/m, Reinforcing Hopes The Fed Will Deliver An Easing Step at ITS Late-Seepote Meeting, Dynamic That Prpelled Megacaps and Benchmark Indes to New Highs This Week.
Strategists cautioned that WHILE THURSDAY’S PPI IS EXPECTED TO TICK UP 0.2% M/M AND JOBless Claims Will Offer A TIMELY READ ON WORK SOFTENING, EQUITY MARKETS APPEAR INCINED TO “LOOK THROUCH” MODEST FIRMNESS IN WHOLESAL Outlook.
Key Watch Points Into The Open Include July PPI, Weekly Jobless Claims for the Public Ended Aug. 9, and Any Earnings Revisions That Could Challenge the Multiple Expansion was expansion by Easing Bets. With Rate-Cut Expectations Now The Primary Driver, Positioning Remains sensitive to upside surprises in inflation or work that could temperature temperature the fed path implied by this week’s cpi-led risk bid.
