Markets rallied following July's tame CPI print, with the Nasdaq jumping 0.59% and the S&P 500 gaining 0.30%. Tech companies led the charge on strong earnings, though Middle East tensions and elevated oil prices kept upside capped ahead of key economic data.
→ Cisco Systems (CSCO) reports Q4 earnings after hours today—enterprise IT demand key to forward guidance
→ Treasury yields stabilizing near 4.7% despite oil upside; Fed rate hike odds for September still at ~46-51% depending on incoming data
→ Sector watch: Financials and rate-sensitive names (real estate, utilities) on edge if yields hold elevated; AI infrastructure names remain bid into close