For investors, the July CPI print was just right, as it raised the odds of a rate cut at the next Fed meeting while showing that inflation isn't spiraling.

Check back throughout the day for market updates. Good morning. Futures are flat for the moment as investors await the July inflation report. It's out at 8:30 a.m. ET and it's sure to be a market mover.

The S&P 500 last gained 20.65 points, or 0.32%, to 6,394.10 and the Nasdaq Composite gained 69.38 points, or 0.32%, to 21,454.78.