Stocks close mixed, checking in on the state of the consumer, tariff impact on inflation

Market Performance - NASDAQ is the only major market to close in the green [1] - Dow is down almost 1 percentage point [2] - S&P 500 is down about 04 percentage point [3] - S&P 600, a small cap market, is down 21%, marking the worst day for small caps in almost 8 weeks [4] - Tech is the only sector in the green, with Materials down 2% [6][7] Economic Indicators and Analysis - The 30-year yield is back above 5%, impacting equities [4] - CPI inflation is stalling out, with tariffs affecting goods inflation [10] - Consumer sentiment is delivering false alarms, with consumers judging their own finances positively but the overall economy negatively [35] - Economists suggest focusing on consumer spending rather than sentiment [40] - June CPI report shows a year-over-year number of 27%, but month-over-month numbers are fine, with the core number at 02% [47][48] Company Specific News - Nvidia is up 404%, resuming sales of some chips in China, potentially adding $8 billion in revenue [8][18][19] - JP Morgan's earnings were strong, with net interest income guidance exceeding expectations by at least $15 billion and investment banking revenues up over 9% year-on-year [25][26][27] - Bank of America expects net interest income to rise about 7% from the previous quarter [62]