🇺🇸 WHAT TO WATCH TODAY — U.S. MARKETS 8:00 AM ET — 🛒 Kroger Earnings 8:30 AM ET — 🇺🇸 August CPI + Real Earnings 10:00 AM ET — 🇺🇸 Michigan Consumer Sentiment 10:00 AM ET — 🇺🇸 Michigan Inflation Expectations 12:00 PM ET — 🏦 Fed Financial Accounts (Z.1) 🔥 CPI — KEY EVENT The final major inflation report before next week’s Fed decision. After a hot PPI print, CPI could significantly shift rate expectations. Hot CPI → yields/USD higher, stocks pressured Cool CPI → yields/USD lower, stocks supported 🇺🇸 MICHIGAN SENTIMENT Consumer sentiment provides another read on the health of U.S. households. More importantly, watch inflation expectations, particularly with oil above $100 and markets focused on persistent price pressures. 🛒 KROGER Kroger reports before the open. Watch management commentary on food inflation, consumer spending and pricing trends. 🏦 FED No major Fed speakers are scheduled ahead of next week’s FOMC meeting. The quarterly Financial Accounts (Z.1) arrive at noon. 🛢️ OIL / MIDDLE EAST No major EIA inventory release today, but oil remains a major macro driver as Middle East tensions keep crude above $100. Higher energy prices could reinforce inflation concerns and put further pressure on bonds.(*Walter Bloomberg)