Record Highs, Cooling Inflation, and the Retail Sales Test

Markets are hovering near record highs as cooler wholesale inflation boosts sentiment, while traders watch Treasury yields, crude oil, and premarket movers like Applied Materials, Tapestry, and Cardinal Health. The episode also breaks down the real test ahead: July retail sales and consumer sentiment, with a bull-vs-bear debate over whether resilient spending can keep the rally alive or signs of labor-market weakness will weigh on the market.