US stocks are already incredibly surreal right now. JPMorgan has just turned in a set of results for what is the highest single-quarter profit in U.S. banking industry history, with net profit of $21.2 billion and revenue of about $58 billion, massively beating expectations. As a result, the share price fell by more than 2% at one point before the open. On the same day, June CPI year over year came in at 3.5%, well below the expected 3.8%. The pace of cooling inflation exceeded expectations, and the probability of further rate hikes was cut straight from 35% to 15%.