Tech led US stocks on Tuesday as a key consumer inflation print showed inflation accelerated in June, big banks kicked off earnings season, and Nvidia was set to receive a green light for trade with China from the Trump administration.

June inflation data released Tuesday represented an increase from May levels, despite the headline numbers matching expectations.

Stock futures are little changed Wednesday ahead of the release of wholesale inflation data as earnings reports from banks and other major companies stream in.

Stock futures were mostly lower Wednesday as inflation fears kept markets under pressure despite cooler-than-expected consumer price index data and strong bank earnings. There’s more of both for investors to digest this morning with Goldman Sachs,

Dow futures mixed as Wall Street eyes bank earnings, inflation data, and tariff risks in a cautious trading session.

The risk is that a hotter-than-expected June inflation report — one that Fed Chair Jerome Powell recently called among the most important for assessing the impact of tariffs — could slow the pace at which the central bank lowers interest rates. Importantly, that could also throw a wrench into the stock market’s record-setting rally.

US stocks hold steady as traders downplay tariff threats and await key earnings and CPI data, with tech and energy sectors showing early weakness.

U.S. stock indexes are drifting around their record levels following a better-than-expected update on inflation. The S&P 500 was flat Wednesday and just below its all-time high set last week.