Morning Brief
Futures edge up, CPI in focus, and Nvidia and AMD strike China deal
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Show notes
US stock futures tick higher ahead of July CPI data, expected to show core inflation rising to 3%. Markets hover near records, with the Nasdaq at a fresh high. Nvidia (NVDA) and AMD (AMD) reportedly agree to give the US 15% of China chip sales revenue in exchange for export licenses. Intel (INTC) CEO Lip-Bu Tan is set to meet with President Trump after calls for his removal over China ties. Citi raises its S&P 500 year-end target to 6,600, citing tax cut offsets to tariffs. Cava (CAVA) and On Holding (ONON) earnings are on deck, along with key IPOs CoreWeave and Circle. Paramount (PARA), Tesla (TSLA), and Coinbase (COIN) are trending.
Takeaways:
CPI data expected to tick up; Fed watching tariff impact on inflation
Nvidia, AMD to give US share of China chip sales for export clearance
Intel CEO meets Trump; Cava, On Holding earnings in focus; IPOs CoreWeave, Circle loom
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