Internet reports that with the Federal Reserve's interest rate cut in September almost certain, options traders generally expect the stock market to operate smoothly before Thursday's CPI data is released. The logic behind the market's expectation of interest rate cuts is that U.S. employment growth is stagnant and the economy needs stimulus. Friday's weak jobs data further reinforced expectations for a 25 basis point rate cut. Although U.S. stocks fell slightly and the panic index rose slightly, it remained below the key 20 level. Options traders expect the S & P 500 to show two-way movements of about 0.7% after Thursday's CPI release.