Staying 'Cautious' as S&P Nears New Record High

The Nasdaq has recorded an 8-day winning streak, its longest run since October, while the S&P 500 is less than 1 percent away from a new record high.

Mikio explains what's been driving US equities of late, and shares his expectations for the upcoming US July CPI data, due at 8:30PM Friday Malaysia time.