S&P 500 futures were flat this morning as global markets rested at or near their all-time highs. Investors are optimistic the U.S. Federal Reserve will cut rates in September, despite an uptick in inflation, in part because of President Trump’s appointment of Stephen Miran to the Fed. If inflation is 0.3% or less, a rate cut is expected; a higher reading could derail these hopes and cause market turmoil.

S&P 500 futures were flat this morning after the index closed up 0.78% on Friday, a new all-time high. Japan’s Nikkei 225 reached a record peak too, up 1.85% today. Stocks in Europe broadly held their gains in early trading.

Why all the optimism?

Because investors think the U.S. Federal Reserve will almost definitely cut interest rates in September, and they are hoping that the consume

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