A.M. Update

S&P futures are unchanged despite some brief volatility around CPI. Small Cap Russell 2000 futures are doing better than the rest, up +0.25%. The weekly MBA Mortgage Applications Index fell -0.8% with refinance applications dropping -5.0% and purchase applications increasing 1.0%. The total Consumer Price Index jumped 0.6% month-over-month in August, as expected, following a…