Key Takeaways
- The S&P 500 slipped 0.4% on Tuesday, July 15, 2025, as a key gauge of inflation revealed increasing pressure on consumer prices last month.
- Shares of State Street and BlackRock moved lower after quarterly earnings reports from both financial firms included some concerning data points.
- Nvidia stock hit a record high after the company said it would resume sales of its top-selling AI chip in China. Shares of AI-exposed companies, including Supermicro and AMD, also advanced.
Major U.S. equity indexes were mixed as the latest Consumer Price Index report showed inflation ticking higher in June, with indications that President Donald Trump’s tariffs are beginning to push up prices on goods like groceries and clothing.
The CPI report was in line with economists’ forecasts. Still, the lift in inflation likely came as a disappointment to investors hoping that a softer reading might nudge the Federal Reserve towards cutting interest rates as soon as this summer.
The S&P 500 ended Tuesday’s session with a loss of 0.4%. The Dow dropped more than 400 points, falling 1%, while strength in the tech sector helped lift the Nasdaq to another record closing high with a gain of 0.2%. Read Investopedia’s full coverage of today’s trading here.
Shares of financial services giant State Street (STT) slipped 7.3%, suffering the steepest drop in the S&P 500, in the wake of the firm’s second-quarter earnings release. Although sales and profits topped estimates, net interest income was down from the year-ago period. State Street’s total expenses jumped 11% year-over-year, reflecting a $100 million workforce rationalization and higher performance-based incentive compensation, as well as technology and infrastructure investments.
Agilent Technologies (A) shares fell about 6%. The laboratory instrument provider said that CFO Bob McMahon would leave the company for personal reasons, effective at the end of July. Rodney Gonsalves, Agilent’s corporate controller and principal accounting officer, will serve as interim CFO. Analysts at Citi recognized investors’ esteem for McMahon but suggested that his departure should not have a major impact on the company’s outlook.
BlackRock (BLK) reported that its assets under management reached a record level of $12.5 trillion in the second quarter, but the firm’s revenue for the period fell short of expectations. The top-line miss resulted partly from a decline in net inflows, which BlackRock attributed to a major single institutional client making a major withdrawal from index funds. BlackRock shares lost 5.9% on Tuesday, receding from a record high posted in the prior session.
Semiconductor giant and world’s highest-valued company Nvidia (NVDA) said it intends to relaunch sales of its top-selling H20 AI chip in China. The announcement came days after a meeting between Nvidia CEO Jensen Huang and Trump. Nvidia shares jumped 4% to a record high on Tuesday.
Nvidia’s plans to resume H20 chip deliveries to China helped boost other stocks in the artificial intelligence space. Shares of server maker Super Micro Computer (SMCI) surged 6.9%, notching the top daily performance in the S&P 500. Citi analysts recently lifted their price target on Supermicro stock, highlighting strong demand for AI servers and an increasing supply of key Nvidia-produced server components. Advanced Micro Devices (AMD) shares were up 6.4%, adding to gains posted last week after analysts at HSBC suggested that AMD’s AI chips are comparable to Nvidia’s offerings.
First Solar (FSLR) shares jumped 6.9% after Jefferies increased its price target on the panel maker’s stock. Although analysts recognized that the macroeconomic challenges facing the renewable energy business could weigh on First Solar’s second-quarter financial results, Jefferies believes additional visibility surrounding the Inflation Reduction Act could help drive volume gains starting in 2026.
