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4h ago

U.S. Futures Waver Ahead of Bank Earnings After In-Line Inflation

Inflation matching forecasts has traders awaiting major Q2 bank results against a backdrop of revived tariff uncertainty

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., July 15, 2025. REUTERS/Jeenah Moon
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., July 15, 2025. REUTERS/Jeenah Moon
A man arranges produce at Best World Supermarket in the Mount Pleasant neighborhood of Washington, D.C., U.S., August 19, 2022. REUTERS/Sarah Silbiger/File Photo

Overview

  • S&P 500 and Nasdaq futures were mixed after June’s consumer price index rose 0.3% month-over-month and 2.7% year-over-year, in line with expectations.
  • JPMorgan Chase, Wells Fargo and Citigroup kicked off second-quarter earnings, with Bank of America, Goldman Sachs and Morgan Stanley set to report later this week.
  • NVIDIA said it expects U.S. licenses to resume H20 AI chip shipments to China soon, driving gains in chip stocks and record highs for Nasdaq futures.
  • President Trump has threatened 30% tariffs on imports from the European Union and Mexico starting August 1, stoking concerns about further input-cost inflation.
  • The Trade Desk will join the S&P 500 on July 18, reflecting a notable shift in index composition this week.