The S&P 500 rose 0.4% and the Nasdaq rallied 0.8% on Tuesday (July 15), while the Dow Jones Industrial Average hovered around the flatline, as the latest CPI report reinforced speculation that the Fed has room to cut interest rates this year. Headline inflation rose in line with forecasts, both annually and monthly.
However, core inflation came in lower than expected for both measures, suggesting that underlying price pressures, particularly those related to recently imposed tariffs, remain contained for now.
Meanwhile, Nvidia shares jumped nearly 5% after the company announced plans to resume sales of its best-selling H20 AI chip to China. Earnings season also kicked off with JPMorgan Chase shares falling nearly 0.6% after the bank reported a 17% decline in second-quarter earnings. Wells Fargo shares also fell 3.7% after lowering its full-year net interest income forecast. Citigroup, on the other hand, rose 1.3% after reporting an 8% increase in annual revenue.
Source: Trading Economics
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