Major market indexes (^DJI, ^IXIC, ^GSPC) closed Tuesday in the green following a softer-than-expected inflation report in the form of July's Producer Price Index (PPI), which has fueled investor optimism about potential Federal Reserve interest rate cuts. The US Bureau of Labor Statistics is scheduled to report the Consumer Price Index (CPI) for the month of July tomorrow morning.

Yahoo Finance markets and data editor Jared Blikre provides insights into the day's top market trends including ongoing risk rallies, Wall Street's bullish outlook on rate cuts, and the uptick in corporate buybacks as fund flows peak.

For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend.

This post was written by Angel Smith