Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., July 10, 2025.
Jeenah Moon | Reuters
S&P 500 futures were higher Tuesday thanks to an advance in Nvidia shares as investors await big bank earnings and a key inflation reading.
Futures tied to the benchmark index rose 0.4%, while Nasdaq 100 futures added 0.6%. Dow Jones Industrial Average futures were down 28 points, or 0.1%.
Nvidia shares ticked 5% higher in the premarket after the chip company said it will resume H20 AI chip sales to China “soon.” “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 Tuesday.
Those moves come as big banks get set to kick off the season, with JPMorgan Chase, Wells Fargo and Citigroup among the companies on Tuesday set to deliver quarterly reports.
Investors are hoping that a second-quarter earnings season that comes in better than expected will boost a stock market that’s at all-time highs. Expectations are low heading into the season. The S&P 500 is projected to post a blended earnings growth rate of 4.3% on a year-over-year basis, according to FactSet data.
Investors are also keeping a close eye on the June consumer price index, due Tuesday morning, seeking clues on how the Trump administration’s tariffs have been affecting prices. The metric is expected to show a 0.3% monthly increase and a 2.7% headline reading, according to Dow Jones consensus estimates. Any upside surprise in last month’s numbers could spook a market that has yet to see any tariff impact on inflation.
Wall Street is coming off a positive session, with stocks eking out a gain Monday even after President Donald Trump threatened a 30% tariff on the European Union and Mexico starting Aug. 1. The Dow Jones Industrial Average rose 88 points, or 0.2%. The S&P 500 gained 0.1%, while the Nasdaq Composite climbed about 0.3%.
“You’re at the point where the president is talking again about higher tariff rates. That’s going to take the effective tariff rate up even higher than we currently anticipated to be,” Dan Greenhaus, chief strategist at Solus Alternative Asset Management, told CNBC’s “Closing Bell” on Monday. “So, my argument would be, while we determine exactly what that level is going to be, after a truly historic rally off the lows, some breather is in order.”
Nvidia shares jump 4.5%
Jensen Huang, co-founder and CEO of Nvidia Corp., speaks during a news conference on May 21, 2025.
Chesnot | Getty Images Entertainment | Getty Images
Shares of Nvidia jumped 4.5% in premarket trade on Tuesday, after the company said it was hopeful it could soon resume sales of its H20 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 on Tuesday.
— Chloe Taylor
Asia-Pacific markets close higher
Asia-Pacific ended the day higher Tuesday.
Hong Kong’s Hang Seng Index added 1.6% to close at 24,590.12, while mainland China’s CSI 300 index was flat at 4,019.06.
Japan’s Nikkei 225 benchmark added 0.55% to close at 39,678.02, while the broader Topix index was flat at 2,825.31.
Meanwhile, South Korea’s Kospi index increased by 0.41% to close at 3,215.28, while the small-cap Kosdaq advanced 1.69% to 812.88.
Australia’s S&P/ASX 200 benchmark ended the day 0.7% higher at 8,630.30.
Over in India, the 50-stock benchmark Nifty 50 was up 0.43%, while the Sensex index moved up 0.31% as of 1.55 p.m. Indian Standard time (4.25 a.m. ET).
— Amala Balakrishner
European stocks open higher
We’re just over half an hour into Tuesday’s trading session, and European shares are broadly moving higher.
The pan-European Stoxx 600 was last seen trading around 0.2% higher, with most sectors trading in positive territory.
Regional shares are coming off of a mostly losing session on Monday, as investors reacted to U.S. President Donald Trump’s threat to to slap 30% tariffs on goods from the European Union next month.
— Chloe Taylor
June consumer price index set to release Tuesday
June’s consumer price index could be the first to show the tariff impact. Here are what economists polled by Dow Jones are expecting:
- Headline: 0.3% monthly increase, 2.7% increase on an annual basis
- Core: 0.3% monthly increase, 3% gain on an annual basis
The inflation reading is due out Tuesday at 8:30 a.m. ET.
— Sarah Min
Expectations are low heading into second quarter earnings
Companies have a low bar to clear this earnings season.
The S&P 500 is projected to post a blended earnings growth rate of 4.3% in the second quarter, on a year-over-year basis, according to FactSet data. That would be the lowest for the index going back to the fourth quarter of 2023, when it was just 4.0%.
— Sarah Min
The Trade Desk surges on news of addition to the S&P 500
Advertising tech company The Trade Desk will become part of the S&P 500, effective before trading opens on Friday, July 18, according to S&P Dow Jones Indices.
Joining the broad market index tends to lift a company’s share price: The Trade Desk jumped 14% in extended trading following the announcement.
The Trade Desk over the past day
Just last week, Wall Street firm Stephens predicted that The Trade Desk could be a potential contender to join the S&P 500’s communications services sector, which is an underweight grouping in the index.
The Trade Desk will replace software company Ansys, which is on track to be acquired by Synopsys on or about Thursday.
—Darla Mercado, Jordan Novet
