A.M. Update

S&P futures have gained another +0.75% driven by carryover momentum from yesterday’s CPI rally. The S&P 500 closing above the 4,200 level is also helping sentiment this morning in addition to  Disney’s (DIS) favorable quarterly results. 27 months of Producer Price Index increases ended this morning. July PPI fell -0.5% (consensus +0.3%) from a revised 1.0% increase…