Another day, another extremely tight range of overnight futures trading – with spoos stuck in a 1% range for the past two weeks, it feels as if nothing can push the index away from its massive gamma gravity around 4,400, although today’s CPI – if it shocks either higher or lower relative to expectations – may be just the trigger that breaks this boring rangebound market. 10Y Yield rose as high as 1.375% as the dollar tracked the move higher.

Amid muted trading volumes, S&P futures dipped slightly lower from a fresh record ahead of data out today showing U.S. consumer prices probably jumped again in July; Nasdaq futures fell on Wednesday, while Dow indicators rose slightly as investors swapped heavyweight technology stocks with economically sensitive sectors following the approval of a U.S. infrastructure bill. At 745am ET, Dow e-minis were up 2 points, or 0.1%, S&P 500 e-minis were down -5 points, or 0.11%, and Nasdaq 100 e-minis were down 31points, or 0.2%.

Coinbase Global rose in pre-market trading after reporting second quarter results, while biotech firm Cohbar Inc. surged on results from a treatment study. Energy firms Exxon, Schlumberger, Marathon Oil, Occidental Petroleum and Halliburton fell between 0.6% and 1.5%, tracking crude prices. Heavyweight FAAMG stocks edged lower, weighed down by a rise in Treasury yields. Heavy industrials Caterpillar and Deere, construction materials suppliers Vulcan Materials, and Nucor Corp rose between 0.4% and 1.9% in premarket trading, adding to sharp gains in the previous session on hopes of reaping gains from infrastructure projects. Here are some of the other most notable premarket movers today:

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