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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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EU Prepares for Potential Trade Retaliation Against US Tariffs

The European Union has announced its readiness to counteract U.S. tariffs with a robust plan, should the need arise. Speaking to the European Parliament, Ursula von der Leyen, President of the European Commission, emphasized the EU's preference for a negotiated solution but affirmed its preparedness to protect its interests, citizens, and businesses if necessary.

The U.S. administration, under President Donald Trump, has recently imposed tariffs on steel and aluminum imports, with additional duties on cars expected soon. Von der Leyen criticized these measures, highlighting their potential to fuel inflation and increase costs for American industries. She also underscored the importance of diversifying trade and removing internal barriers within the EU's single market to strengthen its economic resilience.

While the EU remains open to dialogue, von der Leyen assured lawmakers that all necessary instruments are on the table to respond decisively if required. The bloc's strategy reflects its commitment to safeguarding its economic stability and maintaining a balanced global trade environment.

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