Stocks Hit Fresh Records as Inflation Cools(?)

S&P 500 hits a record close at 7,799 after soft PPI data slashes September rate-hike odds to 34%. Mark and Phil unpack the contradiction of "cooling" inflation at 4.7%, the highest 30-year bond auction since 2001, and why the US dollar might just be "a meme coin." Cisco drops 8% despite unprecedented AI demand, oil snaps a six-day rally on a monster crude build, and Iran insists it controls the Strait — regardless of what Trump says. Plus: ASX earnings highlights including ASX Ltd's surprise 9% jump, the software survivors strategy averaging +50%, and a sneak peek at MPC's Phase 2 AI enablement investment launching in the coming weeks.