Traders predict a 91.8% chance of a quarter-point cut and an 8.2% chance of a half-point cut at the upcoming Federal Open Market Committee meeting, as per the CME FedWatch Tool. This is an increase from 88.9% for just a quarter-point cut last month.

Bespoke Investment Group co-founder Paul Hickey believes that this week’s Producer Price Index (PPI) and Consumer Price Index (CPI) reports are unlikely to sway the Powell Fed’s decision. With a rate cut already priced in with 100% certainty, any deviation from this course would be unusual.

Read more at Dow Jones & Company: The Fed Seldom Cuts Rates When Stocks Are at Highs. What History Says Happens Next.