CPI report indicates economy in good place -market researcher

STORY: Adds Brown, "So, you know the general consensus is that the Fed will lower rates at their next meeting in September. After the unemployment report last week, the discussion was that they may have to lower rates by 50 basis points.... I think the thinking has shifted a little bit, that they still will lower rates, but probably only by 25 basis points. So a smaller decrease than expected, but still a decrease."

According the CME's FedWatch Tool, the odds of a 25 basis point cut next month have risen to 62% from 47% on Tuesday before the release of the CPI.