U.S. Stocks Advance as Inflation Accelerates, Big Banks Kick Off Earnings

Barry Adams
15 Jul, 2025
New York City

Wall Street indexes traded higher as investors reviewed positive earnings from big banks, the inflation report, and Nvidia's announcement. 

The S&P 500 index edged up 0.2%, and the tech-focused Nasdaq Composite advanced 0.4%. 

Consumer price inflation accelerated for the second consecutive month in June, the highest level since February. 

The annual inflation rate increased to 2.7% from 2.4% in May, and core inflation rose to 2.9% from 2.8%, the U.S. Bureau of Labor Statistics reported Tuesday. 

On a monthly basis, the headline inflation accelerated to 0.3% from 0.1% in May, the largest increase in five months. 

The increase in inflation was driven by faster price increases in food, used car prices, and transportation services, and a smaller decline in energy prices. 

However, shelter or housing inflation eased slightly to 3.8% from 3.9% but stayed elevated. 

 

U.S. Stock Movers

JPMorgan Chase & Company decreased 0.7% to $286.70, and the New York-based bank reported better-than-expected quarterly earnings. 

Revenue in the second quarter declined 10% to $45.7 billion, and net income dropped 17% to $14.9 billion, or $5.24 per share. 

Fixed-income trading increased 14% to $5.7 billion, equities trading revenue rose 15% to $3.2 billion, and investment banking fees advanced 7% to $2.5 billion. 

The bank said provision for credit losses was $2.8 billion, lower than the $3.1 billion estimated by analysts. 

Wells Fargo decreased 3.8% to $80.30, and the California-based bank lowered its 2025 net income outlook from the increase between 1% and 3% to match earnings in the previous year.

However, the bank reported better-than-expected quarterly results in the second quarter. 

Citigroup Inc. jumped 1.9% to $89.20 after the bank's results surpassed market expectations. 

Revenue in the quarter was $21.7 billion, net income soared 25% to $4.02 billion, and earnings per share were $1.96. 

The company guided full-year revenue to be near the upper end of its previous guidance of $84 billion, and the company raised its dividend to 60 cents per share from 56 cents after the completion of the stress test on July 2.

Nvidia Corp. advanced 4% to $171.18, and the company's chief executive said it is confident that it will receive an approval from the U.S. government to sell its advanced H20 graphic chip to China.