S&P 500 futures rally following a flat July Producer Price Index (PPI) reading, which reinforced expectations for a Federal Reserve rate hold in September. S&P 500 futures gain about 0.75% while Nasdaq-100 futures rise 1%, supported by tame inflation data and rising weekly jobless claims. In options activity, short-term ES contracts see heavy call volume, while implied volatility drops below 8% for near-term expirations. Meanwhile, Bitcoin remains muted, holding within a tight range between $63,000 and $65,000.