FX.co ★ S&P and Nasdaq Rise, Nvidia Soars

On Tuesday, the S&P 500 advanced by 0.4%, and the Nasdaq climbed 0.8%, while the Dow Jones hovered around the flatline. This movement followed the latest CPI report, which bolstered expectations that the Federal Reserve might have the flexibility to reduce interest rates later this year. Inflation rates met forecasts both annually and monthly. However, core inflation was softer than anticipated on both counts, indicating that underlying price pressures, especially those arising from recently implemented tariffs, remain under control for the time being. Meanwhile, Nvidia's stock surged nearly 5% after the company announced plans to resume sales of its H20 AI chip to China. The earnings season began with JPMorgan Chase shares dipping by approximately 0.6% following a report of a 17% drop in its second-quarter profits. Additionally, Wells Fargo shares declined by 3.7% as the bank lowered its full-year net interest income guidance. In contrast, Citigroup's stock increased by 1.3% after posting an 8% increase in annual revenue.