US futures are indicating a slightly positive open today. European equity markets are trading firmer, while Asian markets have finished mostly higher. Market attention is focused on the softer-than-expected US CPI data, which has reinforced expectations for a potential September Fed rate cut. Core inflation is down to its lowest annualized level since early 2021. Eyes are now on today’s July retail sales and Walmart (NYSE:WMT) earnings for further indications on the health of the US consumer and the potential implications for the ongoing soft- vs. hard-landing debate. In Europe, Bank of England rate cut expectations have risen due to softer-than-expected inflation. Later today, the Norges Bank is expected to announce its policy decision, with markets anticipating the rate will remain at 4.5%.
Companies Mentioned: T-Mobile US (NASDAQ:TMUS), Arm Holdings (NASDAQ:ARM), INTC, NVIDIA (NASDAQ:NVDA), XPO Inc.