Major indices are split today, but mainly flat. The Dow Jones Industrial Average is leading up 0.42%, the S&P 500 also is in the green up 0.99% and testing its 50-day MA at $5,451.7. The Russell 2000 is the largest decliner, down 0.79% and the Nasdaq Composite is also in the red, down 0.27%. These moves come off on the back of the recent CPI report, which came lower than expected and increasing the prospects of rate cuts.

The fear index “VIX” is at an interest spot this afternoon with initial jobless claims tomorrow and next week’s Jackson Hole.

Financial's (XLF) strength today is attributed to strong gains from Auto insurance. Allstate (ALL) reached a new all-time high today after announcing yesterday, after the bell, the sale of its employer voluntary benefits business, American Heritage. In addition, this morning CPI report indicated an increase of 18.6% y/y of motor vehicle insurance.

Shares of Starbucks (SBUX) are the worst performing stock today in the Consumer Discretionary sector, but are still up more than 22% for the week.

In commodities, U.S. Crude Oil Stocks rose by 1.357M barrels compared to the consensus of a 2M barrel decrease.