Dow Jones

Key insight

54,085 Aug record cap — break above targets 55,000; close below 53,500 opens 52,800 retest

53,916 holds below Aug 4 record 54,085 — CPI in-line but Fed divided on Sept rate path

Main risk

Fed rate path uncertainty — Sept FOMC

CPI 3.4% above 2% target; Fed divided on hold vs. raise keeps pressure on valuations