11:42 AM EDT, 07/15/2025 (MT Newswires) -- The Nasdaq Composite was up in late-morning trading Tuesday following news that Nvidia (NVDA) expects to "soon" resume H20 GPU deliveries to China while the Dow Jones was down and the S&P 500 was roughly flat as investors parse the latest inflation data.
The seasonally adjusted consumer price index rose by 0.3% in June, matching expectations of a survey compiled by Bloomberg, according to data released Tuesday by the Bureau of Labor Statistics. Core CPI, which excludes food and energy prices, rose by 0.2%, below the consensus estimate of 0.3% and compared with a 0.1% rise in May. The year-over-year rates for overall and core CPI rose to 2.7% and 2.9%, respectively, from 2.4% and 2.8% during the previous month.
In company news, Nvidia (NVDA) is filing applications to resume selling its H20 GPU in China, expecting a restart of deliveries "soon," the company said Monday. Chief Executive Jensen Huang said the US government has "assured" the company that the relevant licenses will be granted. Nvidia (NVDA) shares were up 4.2% around midday.
JPMorgan Chase (JPM) reported Q2 earnings Tuesday of $5.24 per diluted share, down from $6.12 a year earlier but above the $4.48 consensus of analysts polled by FactSet. Second-quarter net revenue was $44.9 billion, down from $50.2 billion a year ago but above the FactSet average estimate of $43.8 billion. The bank raised its 2025 net interest income guidance to $95.5 billion from $94.5 billion. Analysts expect $94.9 billion. JPMorgan (JPM) shares were down 0.6%.
Wells Fargo (WFC) reported Q2 earnings Tuesday of $1.60 per diluted share, up from $1.33 a year earlier and above the $1.41 average estimate of analysts surveyed by FactSet. Second-quarter revenue was $20.82 billion, up from $20.69 billion a year ago and above analyst expectations for $20.75 billion. For 2025, the bank said it expects net interest income to be "roughly in line" with 2024's $47.7 billion. The company previously expected a year-over-year increase of 1% to 3%. Wells Fargo (WFC) shares were down 5.5%.
BlackRock (BLK) reported Q2 adjusted earnings Tuesday of $12.05 per diluted share, up from $10.36 a year earlier, which beat the $10.78 consensus of analysts polled by FactSet. Second-quarter revenue was $5.42 billion, up from $4.81 billion a year ago but below the average estimate of $5.45 billion. BlackRock (BLK) shares were down 5.5%.
Citigroup (C) reported Q2 net income Tuesday of $1.96 per diluted share, up from $1.52 a year earlier and above the $1.61 average estimate provided by FactSet. Second-quarter revenue was $21.67 billion, up from $20.03 billion a year ago and above analyst expectations for $20.96 billion. Citigroup (C) shares were up 3.1%.
Advanced Micro Devices (AMD) is planning to restart shipments of its MI308 chips to China as licenses to export those products are approved. The Department of Commerce recently informed AMD that license applications to export the products to China will be moving forward for review, a company spokesperson told MT Newswires. AMD shares were up 6.3%.
Apple (AAPL) has signed a $500 million long-term agreement with MP Materials (MP) through which MP will provide the tech giant with magnets produced at its Fort Worth, Texas facility using recycled feedstock processed at its Mountain Pass site in California, MP said Tuesday. Magnet shipments are expected to commence in 2027, MP said. Apple (AAPL) shares were up 1.4%, while those of MP Materials were up 25.7%.
Tesla's (TSLA) top executive for sales in North America has left the company, The Wall Street Journal reported Tuesday, citing people familiar with the matter. Troy Jones, vice president of sales, service and delivery in North America was with Tesla for 15 years before departing amid slumping sales figures, according to the report. Tesla shares were down 0.8%.
CoreWeave (CRWV) said Tuesday it plans to invest up to $6 billion in a new center in Lancaster, Pennsylvania to support growing demand for artificial intelligence infrastructure. The initial phase includes a 100-meawatt facility with room to scale to 300 MW, the company said. CoreWeave (CRWV) shares were up 9%.
Alphabet's (GOOG) Google (GOOG) will invest $25 billion in AI infrastructure and data centers over the next two years in state across the largest electric grid in the US, CNBC reported Tuesday. Alphabet shares were up 1.1%.
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