U.S. stock index futures moved higher on Tuesday, as investors brace for a flurry of bank earnings reports and closely watched inflation data that could influence the Federal Reserve’s next move.
As of 5:30 a.m. ET:
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Nasdaq 100 futures rose 0.6%
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S&P 500 futures climbed 0.4%
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Dow futures dipped 0.1%
The second-quarter earnings season kicks off this week, with major players like JPMorgan Chase, Citigroup, and Wells Fargo set to report. Investors will assess how these banks are navigating trade tensions, interest rate pressures, and economic uncertainty.
Tech giants Microsoft and Netflix are also scheduled to release their results later this week, potentially driving market direction.
On the macro front, the market is focused on the upcoming June Consumer Price Index (CPI) data. Consensus estimates point to:
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Annual inflation at 2.6%
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Core CPI at 3.0%
The numbers could shape expectations for future Fed rate cuts or pauses, making this release a key market catalyst.
In other developments, Nvidia has resumed sales of its H20 chips in China, reflecting improving U.S.-China relations and easing supply chain concerns. Meanwhile, Trump’s new 50-day ultimatum to Russia to end the Ukraine war has contributed to oil market stabilization.