Nvidia expects to sell H20 chips in China soon, inflation rose in June

Market Trends & Analysis - The S&P 500 and NASDAQ hit fresh record highs [41] - Bank earnings suggest the economy is progressing despite trade uncertainties [10] - Asset prices are considered elevated, posing a risk moving forward [15] - Fund manager surveys indicate sentiment is getting toppy, but equity positioning is not yet extreme [23] Company Performance & Outlook - JP Morgan exceeded EPS forecasts, indicating a potential recovery in investment banking [3] [11] - BlackRock's assets under management reached a record of 1253 trillion [11] - Wells Fargo cut its profit outlook after a weak quarter [3] [11] - Nvidia's stock increased due to expectations of selling H20 chips to China, pending license approval [7] [8] [12] - Taiwan Semiconductor (TSM) is expected to raise its full-year revenue outlook due to strong AI chip demand [48] [49] - Intel is expected to face market share losses and challenges into 2026 [47] Economic Factors & Federal Reserve - The June CPI came in line with estimates, with a year-over-year increase of 29% [3] [13] - The market anticipates the Federal Reserve will likely remain on hold regarding interest rates in the near term, with decreasing expectations of a rate cut in September [24] [25] - Tariffs' impact on consumer prices is still developing, with some retailers potentially absorbing costs [21] [31]