In moments we'll get breaking results from the Oracle

We're bringing the numbers plus instant stock reaction as soon as those earnings hit

But we begin with our talk of the tape a moment of truth for the market as we await tomorrow's critical

CPI report investors expecting to see inflation easing again last

month and our first guest says tomorrow's print could help decide which

way stocks might break from the summer long

trading range. Let's bring in Cameron Dawson, Chief Investment Officer at New Edge

Well Cameron thanks for coming down it's a party here apparently tonight we got a 1% gain in the

S&P 500 but interesting set up ahead of the C. P. I just wonder clearly the

street has gotten into a posture saying that it could be benign is it going to be a Street has

a posture saying that it could be benign.

Is it going to be a clinching number that says the peak inflation story has legs?

Well, we think we have to watch the core

C. P. I. On a month over month really closely, because if we look at the July

C. P. I print it was all about energy prices that brought us down on a month over

month basis but it really is a question of how does that spread out to other parts of inflation, other

components. We think we could see some softness in goods prices, but then it comes to

services and services are so important because they tend to be stickier, they tend to go high and

stay high, and they tend to be more related to wages.

Wages are still running up 6.7 percent, so that could keep services inflation high high and that really is a key thing for the

Fed to watch as they determine if inflation really has moved lower significantly.

For sure and it's interesting that the markets have rallied here let's say 5% in the last week

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