Powell says tariff-driven inflation is a big problem for the Fed.
Federal Reserve Chairman Jerome Powell said the US Central Bank is still struggling to determine the impact of tariffs on consumer prices.
Bloomberg – Politics
US stock futures are mixed as investors await inflation data and corporate revenue reports.
Before the opening, investors will analyze June’s inflation data to look for signs that President Donald Trump’s tariffs are increasing consumer prices. On average, economists expect an annual inflation to increase by 2.7%, according to Dow Jones. The so-called core rate, which excludes food and energy, is expected to rise by 3%. They are compared against the overall increase in May and the core gain of 2.8%.
“Inflationary pressures have remained restricted to date, but tariffs will ultimately feed the prints by pushing them high and creating discomfort for the Fed,” said Sheema Shah, a leading global strategist. The next policy meeting for the Federal Reserve is at the end of the month, but no one expects the Fed to lower fees.
Investors will also see the start of the revenue season amid the big banks where JPMorgan Chase, Wells Fargo and Citigroup are scheduled to be reported before the opening bell. Before President Donald Trump’s tariff plans, bars for revenue fell from the beginning of the year. It is expected to be the weakest revenue season since mid-2023.
At 6:20am ET, futures tied to the Blue Chip Dow slipped -0.05%, while the Broad S&P 500 futures added 0.37%, while the Tech-heavy Nasdaq futures rose 0.59%.
Corporate News
- According to the S&P Dow Jones index, the trade desk will be taking part in the S&P 500 before trading on Friday, July 18th.
- Nvidia plans to sell the H20 GPU again. “The US government has assured NVIDIA that the license will be granted, and Nvidia wants to start deliveries soon,” he said in a blog post.
Cryptocurrency
MicroStrategy said it acquired 4,225 Bitcoin between July 7th and July 13th at $111,827 per coin, or 4,225 Bitcoin totaling $472.5 million.
Bitcoin rose to consecutive record highs last week.
Medora Lee is a money, market and personal finance reporter for USA Today. mjlee@usatoday.com and Subscribe to our free daily money newsletter Personal finance tips and business news every Monday to Friday.
