US Stocks Mixed as Inflation Ticks Up and Trade War Fears Ease

Strategic Insights -

US stocks began the session mixed on Tuesday, with the Dow Jones sliding 1% and the S&P 500 shedding 0.4% as new data showed inflation ticked up in June. The increased inflation rate indicates that the Federal Reserve is unlikely to cut interest rates anytime soon. However, the tech-heavy Nasdaq added 0.2% as Nvidia led chipmakers higher on news that it will soon be able to resume shipments of its AI chips to China following US export restrictions.

Key Takeaways:

  • The Dow Jones slid 1% to close at 44,022 points, while the S&P 500 shed 0.4% at 6,243.
  • The tech-heavy Nasdaq added 0.2% at 20,677 points as Nvidia led chipmakers higher.
  • Nvidia shares rose 4.4% after the company announced it expects to resume shipments of its H20 graphics processing units (GPUs) to China soon.
  • Trade Desk shares jumped almost 8% after it was revealed the digital advertising technology firm will be added to the S&P 500 later this week.
  • Nano One Materials has been selected to join the Arkansas Lithium Technology Accelerator (ALTA), sending its shares more than 23% higher.
  • JPMorgan CEO Jamie Dimon noted that while the US economy remains resilient, significant risks persist, including from tariffs and trade uncertainty.

Statistics:

  • The Dow Jones slid 1% to close at 44,022 points.
  • The S&P 500 shed 0.4% at 6,243.
  • The Nasdaq added 0.2% at 20,677 points.
  • Nvidia shares rose 4.4% after the company announced it expects to resume shipments of its H20 graphics processing units (GPUs) to China soon.
  • Trade Desk shares jumped almost 8% after it was revealed the digital advertising technology firm will be added to the S&P 500 later this week.

Sources:

  • Bloomberg
  • Dow Jones
  • S&P 500
  • Nvidia Corporation
  • Trade Desk Inc.
  • Nano One Materials Corporation
  • JPMorgan Chase & Co.
  • ING Group
  • Comerica Bank
  • XTB
  • Federal Reserve