(These are the market notes on today's action by Mike Santoli, CNBC's Senior Markets Commentator. See today's video update from Mike above.) Stocks are idling to start a new week, holding just below record highs as Wall Street awaits some potentially consequential updates on the consumer and Federal Reserve policy. The S & P 500 was nearly flat, sitting in its narrowest daily range of the year, holding tight to its closing level both from Friday and last Tuesday, the day that a mostly benign Consumer Price Index report for July solidified expectations for a Fed rate cut next month. Here's the index with last Tuesday's closing level highlighted … Below the surface, a firmer bid was evident. A modest majority of stocks were up on the day Monday, the equal-weighted S & P 500 barely was in the

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