Major Indexes Climb as June CPI Meets Expectations
U.S. stock markets today are trending higher Tuesday morning as investors digest the latest inflation data and a wave of bank earnings, while tech stocks get a boost from Nvidia’s announcement about resuming chip sales to China.
The S&P 500 futures rose 0.3%, while Nasdaq 100 futures added 0.6% in premarket movers activity. The Dow Jones Industrial Average futures were down slightly, shedding 83 points or 0.2%, showing a divergence between tech and blue-chip stocks.
The Consumer Price Index (CPI) for June increased 0.3% month-over-month, putting the annual inflation rate at 2.7%, matching economists’ expectations. Core CPI, which excludes volatile food and energy prices, grew 0.2% for the month and 2.9% year-over-year, also in line with forecasts.
“The market is more focused on this year-over-year number, but I will say the fact that for 5 straight months the month-over-month headline CPI number has come in below expectations, that is meaningful,” said Scott Wren, senior global market strategist at Wells Fargo Investment Institute.
Nvidia Leads Tech Rally on China Export News
Shares of Nvidia (NVDA) jumped more than 4% in premarket trading after the chipmaker announced it will soon resume sales of its H20 AI chips to China. “The U.S. government has assured NVIDIA that licenses will be granted, and NVIDIA hopes to start deliveries soon,” the company said in a statement released Monday evening.
The news comes after Nvidia CEO Jensen Huang met with President Donald Trump last week and with Chinese government officials on Monday. The H20 GPU was specifically designed to comply with U.S. export restrictions, but sales were halted in April by the Trump administration.
The reversal could help Nvidia recover a substantial portion of what analysts estimated could be up to $15 billion in fiscal 2026 data center revenue that was previously at risk.
Other semiconductor and tech stocks are also benefiting from the news, with Advanced Micro Devices (AMD) rising over 5% in premarket movers activity. Taiwan Semiconductor (TSM), which manufactures chips for Nvidia and other tech giants, climbed 2.2% ahead of its quarterly earnings report scheduled for Thursday.
Bank Earnings Kick Off Q2 Reporting Season
Financial heavyweights reported their second-quarter results Tuesday morning, officially launching the earnings season. JPMorgan Chase (JPM) posted better-than-expected results driven by strong trading and investment banking revenue, though shares dipped about 0.3% in early trading.
Wells Fargo (WFC) beat earnings expectations but saw its shares fall 2% after reducing its net interest income guidance. Citigroup (C) shares edged higher after the bank topped second-quarter estimates.
BlackRock (BLK), State Street (STT), and Bank of New York Mellon (BK) also reported before the opening bell, with most financial institutions showing year-over-year earnings growth.
According to FactSet, S&P 500 companies are expected to post just 4.3% earnings growth in Q2 compared to last year—the slowest pace since late 2023. This modest growth outlook has some market analysts suggesting the recent rally may be due for a pause.
“After a historic run, some breather is in order,” said Dan Greenhaus of Solus Alternative Asset Management on CNBC’s Closing Bell.
Upcoming Market Events to Watch
Investors are looking ahead to several key events this week that could impact markets today and beyond:
1. Federal Reserve Chair Jerome Powell is scheduled to testify before Congress on Wednesday and Thursday, where he may provide insights into the central bank’s thinking on interest rates.
2. Taiwan Semiconductor’s earnings report on Thursday will offer a window into global chip demand and AI-related growth.
3. The Trade Desk (TTD) will join the S&P 500 index effective before trading opens on Friday, July 18, replacing software company Ansys. The news sent TTD shares up 14% in after-hours trading on Monday.
4. Retail sales data for June will be released on Thursday, providing a gauge of consumer spending amid persistent inflation.
Global Markets Show Strength
Asian markets ended Tuesday’s session mostly higher, with Hong Kong’s Hang Seng Index adding 1.6% to close at 24,590.12, boosted by the Nvidia news. Japan’s Nikkei 225 gained 0.55% to close at 39,678.02, while South Korea’s Kospi increased by 0.41%.
European markets were also trending higher in early trading, as investors globally responded positively to the U.S. inflation data and corporate earnings.
Looking Ahead: Market Sentiment Remains Cautiously Optimistic
Despite concerns about slowing earnings growth and ongoing geopolitical tensions, stock market sentiment remains cautiously optimistic heading into the heart of earnings season. The S&P 500 is already at all-time highs, and investors are hoping that second-quarter results will provide justification for current valuations.
With inflation showing signs of moderating and the Federal Reserve potentially moving closer to interest rate cuts, many analysts believe the markets today are positioned for continued, if more modest, gains through the remainder of 2025.
However, market strategists caution that volatility could increase as more companies report earnings and as investors continue to assess the impact of Trump administration policies, particularly regarding international trade and technology exports to China.
I’ve created a comprehensive stock market article for Tuesday, July 15th, 2025, focusing on the current market conditions, major premarket movers, and upcoming events that could impact trading.
The article highlights the positive market reaction to the June CPI data meeting expectations, with inflation at 2.7% annually. It also covers the significant news about Nvidia resuming H20 AI chip sales to China, which is boosting tech stocks in premarket trading.
The piece includes details on major bank earnings released today (JPMorgan, Wells Fargo, Citigroup), and mentions upcoming market events like Powell’s testimony and Taiwan Semiconductor’s earnings report.
I’ve incorporated the requested keywords naturally throughout the text and included relevant stock tickers for the companies mentioned. The article provides a balanced view of current market conditions while highlighting the most significant news affecting trading today.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.