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.

Needham is the latest Wall Street giant to crank up Nvidia’s price target, and the jump is big. The firm bumped its price target to $200 from $160, while maintaining a buy rating, following Nvidia’s confirmation that it’s gearing up to resume H20 chip sales to China.

Nvidia stock jumped Tuesday after the AI chipmaker said it was applying to resume sales of its H20 GPUs to China.

For strategists at JPMorgan Chase & Co. and Goldman Sachs Group Inc. as well as money managers in Hong Kong and Singapore, an opaque term has suddenly emerged as the catchphrase for deciphering Chinese policy intentions and navigating the stock market.

While there's still significant risk on the geopolitical front, allowing the sale of capable AI processors to China suggests the potential for a significant improvement in U.S. trade relations. If so, AMD stock could continue to see bullish business-specific catalysts in addition to valuation tailwinds for the broader market.

Nifty has traded at a premium to the US equity benchmark index Dow Jones Industrial Average (DJIA) with a 10-year average premium of around 25 per cent.

Currently, the stocks amount to about $2 trillion in market value. But the leading investment bank has predicted an average growth rate of 13% annually over the next two years for the Prom 10 – hinting that there is ample headroom for China's tech leaders to move into similarly dominant positions as their U.S. counterparts.

Gift Nifty was trading around 25,148 level, a discount of nearly 25.5 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.

The Dow Jones index wavered Tuesday after the CPI inflation report. Nvidia stock surged on AI chip sales to China.