CPI Day Tests a Two-Session Tech Pullback as Energy Leads

Equities head into Wednesday's July CPI release on the back of two straight down sessions, and the setup is more interesting than the headline losses suggest. The S&P 500 slipped 0.32% Tuesday to close at 7,728.20, the Nasdaq Composite fell 0.60% to 26,445.45, and the Dow lost 184.13 points (-0.34%) to 53,791.85, per CNBC. Underneath that flattish tape, money has been quietly rotating out of mega-cap technology and communication services and into energy, utilities, and industrials, a pattern that shows up when investors want inflation protection heading into a binary data print rather than a genuine growth-versus-value call. Key Takeaways The S&P 500 fell 0.32% and the Nasdaq 0.60% on Tuesda…