New Delhi, Aug. 13 -- The worries on Wall Street are the same now as they were before the latest inflation numbers came out Wednesday-and all are tied to the economy: rising prices, uncertainty about the Iran War's impact on oil, and whether the Fed will cut or hike rates.

But something investors aren't wringing their hands over is the stock market's surprising summer rally. They're all in-and they're going to play it out.

Why not? Inflation is still in the background, but the monthly consumer price index report that came out Wednesday before the opening bell certainly could have been much worse.

July inflation quickened-ever so slightly-from June. The monthly overall reading was up 0.1%, but the annual rate inched down to 3.4% from 3....