Business
Nasdaq Futures Jump 110 Points Ahead of Key Bank Earnings

Futures on Wall Street have rebounded after initial losses, with Nasdaq futures surging over 110 points, indicating strong investor sentiment ahead of significant economic data and earnings reports. The Dow Jones and S&P 500 also regained ground, currently trading above the flat line after recovering from early losses of nearly 70 points.
The positive momentum follows an announcement from Nvidia, a leader in artificial intelligence technology, stating that it plans to resume sales of its H20 AI chips to China. This decision comes after receiving assurances from the US government, which has been closely monitoring technology exports amid geopolitical tensions.
Focus on Inflation and Earnings Reports
Investors are particularly focused on the upcoming June Consumer Price Index (CPI) data, expected to show a year-on-year increase. This report is anticipated to influence market trends as inflation continues to be a critical concern for policymakers and market participants alike. Along with inflation data, the earnings season kicks off today, with major banks such as JPMorgan Chase, Citigroup, and Wells Fargo set to announce their quarterly results. The performance of these banks, key components of the Dow Jones Industrial Average, could significantly impact the index’s trajectory.
Market analysts suggest that the outcomes of these earnings reports will provide insights into the health of the banking sector and broader economic conditions. As such, investors are preparing for a potentially volatile trading session.
The US Dollar Index remains above 98, reflecting a stable dollar against other currencies. In commodities, Brent crude prices are trading below $69 per barrel, while gold prices maintain a position above $3,350 per ounce.
As the trading day unfolds, all eyes will be on the release of the CPI data and the results from major financial institutions. Investors are keenly watching for any signs of economic shifts that could influence market direction in the coming weeks.
Stay tuned for live updates as this developing story progresses.
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