Overview

• U.S. stock futures rose modestly Tuesday, lifting the S&P 500 and Nasdaq to slight gains as markets awaited the June CPI release and major bank earnings
• Nvidia shares jumped over 4% after the company said it expects to resume sales of its H20 AI chips to China following assurances of U.S. export licenses
• The June consumer price index climbed 0.3% month-over-month and 2.7% year-over-year, slightly above economists’ forecasts for tariff-driven inflation
• JPMorgan Chase, Wells Fargo and Citigroup kicked off second-quarter results with mixed outcomes that left overall bank sector performance relatively flat
• President Trump’s renewed threat of 30% tariffs on the European Union and Mexico starting August 1 pushed Fed rate-cut expectations toward September