Market Overview - The U.S. stock market showed mixed performance, with financial stocks declining while technology and Chinese concept stocks surged [2][3] - Following a relatively mild inflation report, concerns about tariffs remained, leading to a softening of both U.S. stocks and bonds [4] Inflation Data - June's Consumer Price Index (CPI) rose by 0.3% month-on-month, resulting in an annual inflation rate of 2.7%, which aligns with market expectations [5] - Core CPI, excluding food and energy, increased by 0.2% month-on-month and 2.9% year-on-year, also meeting expectations [5] Financial Sector Performance - Major financial institutions reported earnings that failed to impress investors, with Wells Fargo's stock dropping over 4% despite beating profit expectations due to lowered net interest income guidance [5][6] - JPMorgan Chase's stock slightly declined despite strong trading and investment banking performance [8][9] - BlackRock's stock fell over 5% due to quarterly revenue falling short of expectations [5] Technology Sector Performance - Technology stocks surged, driven by news that Nvidia and AMD would resume some chip sales to China [17][19] - Nvidia's stock rose by 4.40%, while AMD's stock increased by 6.51% following the announcement of export license approvals [18][19] Chinese Concept Stocks - The Nasdaq China Golden Dragon Index rose approximately 2%, with notable gains in companies like Kingsoft Cloud, which surged nearly 20% [20][21] - Alibaba's stock increased by 6% as the news positively impacted large cloud service providers [20] Apple and Rare Earths - Apple announced a $500 million agreement with MP Materials to procure rare earth magnets and build a recycling facility in California, leading to a stock price increase of over 20% for MP Materials [23][24] - This partnership aims to strengthen Apple's supply chain in the U.S. and create new manufacturing and R&D jobs [23][25]