Investors await July CPI inflation figures as futures rise modestly, while AI-related stocks rally after strong earnings from Nvidia partners.
Dow Jones futures rose slightly early Wednesday, with S&P 500 and Nasdaq futures also climbing ahead of the July Consumer Price Index report. The data is expected to influence Federal Reserve policy expectations as inflation trends remain a key focus for markets.
Stocks paused on Tuesday amid rising oil prices and geopolitical tensions in the Strait of Hormuz. Meanwhile, AI-related stocks surged following strong earnings from Nvidia partners Lumentum, Super Micro Computer, and CoreWeave, which reported a smaller-than-expected Q2 loss and revenue above estimates.
CoreWeave’s operating margin improvement and revenue beat drove its stock higher, reinforcing optimism in AI infrastructure demand. The broader market reaction to CPI data will likely dictate near-term sentiment.