- Surging U.S. producer prices and a spike in Treasury yields have cast some doubt on a widely expected Fed rate cut in September. The S&P 500 remains near its high, however, and is banking on a cut. While a 0.25% cut remains the most likely outcome, it no longer looks guaranteed. Globally, European and Asian equities are mixed. S&P 500 futures are flat this morning.
In the stock market, it appears that all is calm, all is quiet: S&P 500 futures are flat this morning, premarket, and the index itself closed up marginally yesterday, near to its all-time high.
