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S&P 500 and Nasdaq end higher on cool inflation data, solid bank earnings | Reuters

SUMMARY
Indexes up: Dow 0.02%, S&P 500 0.38%, Nasdaq 0.90%
June CPI lands below consensus
JPMorgan rises on higher Q2 profit
Goldman Sachs jumps as Q2 profit tops estimates
IBM tumbles after forecasting Q2 revenue below estimates

NEW YORK, July 14 (Reuters) - The S&P 500 and the Nasdaq advanced on Tuesday as solid big bank results and a cooler-than-expected inflation report boosted risk appetite amid ‌rising Middle East tensions.

A rebound in chip shares (.SOX), opens new tab put the Nasdaq out front, while the Dow's gains were more subdued.

The Labor Department's Consumer Price Index showed inflation cooled more than analysts expected in June, largely due to abating energy price pressures amid last month's signs of progress in U.S.-Iran peace negotiations.

U.S. Federal Reserve Chair Kevin Warsh sat for his first congressional testimony since his confirmation, in part to lay out the central bank's plan to contain upward price pressures. Warsh's testimony occurred while the battle for control over the Strait of Hormuz has ⁠led to ramped-up airstrikes between the United States and Iran and boosted crude oil prices, reviving fears of upward price pressures.

Still, following the CPI report, financial markets were pricing in an 83.4% likelihood that the Fed will let its key interest rate stand at the conclusion of its July policy meeting, up from 58.3% on Monday. Markets expect at least one 25-basis-point rate hike before year-end, according to CME's FedWatch tool.

Second-quarter earnings season began with five big U.S. banks ‌reporting solid ⁠results, buoyed by trading strength and dealmaking.

Goldman Sachs (GS.N), opens new tab surged 9% after it surpassed second-quarter profit expectations, as dealmaking picked up pace and geopolitical uncertainties boosted its trading business. JPMorgan Chase (JPM.N), opens new tab and Bank of America (BAC.N), opens new tab advanced 2.5% and 1.9%, respectively, after delivering consensus-beating profits.

Citigroup (C.N), opens new tab slid 5.3% as worries over expenses overshadowed its profit beat, while Wells Fargo (WFC.N), opens new tab dropped 2.7%...

IBM (IBM.N), opens new tab shares tumbled 25.2% after the company warned second-quarter revenue would fall below estimates...

Among the 11 major sectors of the S&P 500, tech shares (.SPLRCT), opens new tab registered the biggest percentage gain, while healthcare stocks (.SPXHC), opens new tab were the biggest laggards.

Advancing issues outnumbered decliners by a 1.78-to-1 ratio on the NYSE. There were ⁠205 new highs and 108 new lows on the NYSE.
On the Nasdaq, 2,651 stocks rose and 2,103 fell as advancing issues outnumbered decliners by a 1.26-to-1 ratio.
Volume on U.S. exchanges was 16.38 billion shares, compared with the 21.66 billion average for the full session over the last 20 trading days.

https://www.reuters.com/business/finance/wall-st-futures-mixed-ahead-cpi-bank-earnings-us-iran-tensions-focus-2026-07-14/

S&P 500 and Nasdaq end higher on cool inflation data, solid bank earnings
https://www.straitstimes.com/business/companies-markets/sp-500-and-nasdaq-end-higher-on-cool-inflation-data-solid-bank-earnings

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