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Tech Surge Lifts Nasdaq as Inflation and Bank Earnings Weigh on Dow

  U.S. stocks traded mixed on Tuesday as investors digested fresh inflation data and the kickoff of bank earnings season. The Nasdaq Composite jumped 0.8% , powered by a rally in semiconductor stocks, while the Dow Jones Industrial Average slipped 0.3% amid concerns over rising prices and uneven financial sector results. Key Drivers: Nvidia (NVDA) soared nearly 5% after announcing plans to resume AI chip sales to China, following a green light from the U.S. government. The move sparked a broader rally in chipmakers, with AMD and Micron also posting strong gains. The Consumer Price Index (CPI) rose 0.3% month-over-month and 2.7% year-over-year in June, signaling a slight acceleration in inflation. Core CPI, excluding food and energy, climbed 2.9% annually. Bank earnings painted a mixed picture: JPMorgan and Citigroup beat expectations, while Wells Fargo fell short, cutting its net interest income forecast. BlackRock also reported record assets under management but saw its ...
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U.S. Pledges Support for Israel Amid Iran Drone Attack



In a significant development, the White House has announced its commitment to providing unspecified support for Israel’s defense against an ongoing airborne attack from Iran. National Security Council spokesperson Adrienne Watson stated, “The United States will stand with the people of Israel and support their defense against these threats from Iran”.

The situation escalated when Iran launched a number of drones toward Israel, with the aircraft expected to arrive in the coming hours. Israel’s military, however, remains prepared to counter this threat .

The vessel targeted in the attack was described as being “seized by regional authorities” in the Gulf of Oman off the Emirati port city of Fujairah. Although Iran has not immediately acknowledged seizing any vessel, it has a history of ship seizures and attacks attributed to it amid ongoing tensions with the West over its rapidly advancing nuclear program .

As the situation unfolds, the world watches closely, and Israel braces for potential further actions. The U.S. commitment to supporting its ally underscores the gravity of the situation and the need for vigilance in the region.

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