Soft CPI Gives the Fed Cover & Relief Rally
US equities rallied on a cooler-than-expected June CPI print, with the S&P 500 closing at 5,655 as rate-cut bets surged. Oil spiked above $70 on escalating US-Iran tensions around the Strait of Hormuz, while Goldman Sachs posted record Q2 earnings. The ASX 200 is poised for a strong open, with SPI futures up 0.6%.