Kevin Hincks reports from the @cboeglobalmarkets as futures come in flat. The latest PPI print show gasoline prices sinking, something Kevin believes attributes to the U.S. winning the inflation fight. He doesn't expect the Fed to cut interest rates five times as markets may indicate, however, Powell could signal the start of a rate cutting cycle sooner than expected. On China, Kevin expects the country's raise on tariffs against the U.S. to backfire.