Dale Smothers doesn't expect a rate cut from the Fed next week but still sees two rate cuts before the end of the year. However, he says that all depends on how strong future CPI prints come in, particularly July's. Turning to the Mag 7, Dale believes Apple (AAPL) has room to catch up to the rest of the Mag 7's recovery. He expects Nvidia (NVDA) to continue leading markets as the "pickaxes and shovels" A.I. play.