US stock futures climbed on Wednesday amid increasing expectations that the Federal Reserve will cut interest rates at its next meeting, following the latest inflation data.

Futures attached to the Dow Jones Industrial Average (YM=F) rose 0.2%, the benchmark S&P 500 (ES=F) inched up 0.1, and the tech-heavy Nasdaq 100 (NQ=F) gained 0.2%.

In premarket trading, Circle (CRCL) fell after the company announced it would sell 10 million shares on the heels of its first earnings report since its explosive public debut. Cava (CAVA) shares also dove after the company issued its first annual sales growth target cut. CoreWeave (CRWV) saw losses too despite beating revenue estimates on strong demand for AI.

In day trading, stocks roared after the release of the July CPI report, with the S&P 500 and Nasdaq both touching new records. Though the data showed inflation had ticked up, it increased by less than expected. The results boosted bets the Fed would cut interest rates at its September policy meeting, especially in light of recent warnings signs the labor market is weakening.

Later this week, investors will get two more snapshots on the state of the economy with the release of the Producer Price Index on Thursday and retail sales data on Friday.

CoreWeave (CRWV) was teed up to letdown investors last night.

And it did on several fronts.

First, the company's net loss was much higher than consensus.

Two, capital expenditures were a whopping $1 billion higher sequentially. And three, capex may climb another $500 million in the current quarter.

While I appreciate the company's revenue backlog of $30.1 billion doubled year over year, the company's mixed results and high debt load are real causes for concern. Hence, the sharp pre-market pullback.

Here are two important call outs this morning from DA Davidson analyst Gil Luria:

\\"With operating income of $200 million and interest expense of $(267 million) it appears that CoreWeave does not currently generate enough profit to pay all its debt holders, certainly not equity holders. Guidance of $(350)-(390) million of interest expense on only $160-190 million of operating income indicates that may be getting worse.\\"

\\"CoreWeave will likely need to add $10 billion more debt during the balance of the year to support their data center expansion plans. Management acknowledges that they will have to bring more debt onto the balance sheet in order to scale this business further, and we believe they will have to perform significant capital raises in the near-term just to meet their guidance and capacity commitments.\\"

Cava (CAVA) is getting run over pre-market to the tune of 23%.

Bottom line on this one: when you are valued as a high growth stock and you don't deliver high growth, your stock will take a beating. Good rule of thumb, and this is the case for Cava today.

Same restaurant sales only rose 2.1%.

The company slashed its full year same-restaurant sales guidance.

The earnings call wasn't exactly alarming — the company appears to still be structurally sound.

But a slower economy and increased competition is weighing on the brand's results. We heard the same exact tone at Chipotle (CMG) and Starbucks (SBUX) this earnings season.

The positive here: Cava is testing salmon for its menu. Who doesn't like salmon in $15+ salad bowl!