U.S. stock futures are higher, near record highs, ahead of inflation data this week.
July's consumer price index this week is expected to rise. A Reuters poll of economists forecasts the annual rate at 2.8%, up from June's 2.7%. Investors will be watching to see if President Donald Trump's tariffs on imports are translating into higher prices. The June CPI report suggested tariffs were boosting the prices of some goods.
At 6 a.m. ET, futures tied to the blue-chip Dow rose 0.22%, while broad S&P 500 futures added 0.10% and tech-laden Nasdaq futures gained 0.05%.
Semiconductor giants Nvidia and AMD will give the U.S. government 15% of their revenues from certain chips sold in China, the Financial Times reported. In return, the companies received export licenses to sell Nvidia’s H20 and AMD’s MI308 chips in China, according to the FT. Such a deal would be unprecedented.
Separately, Nvidia refuted allegations from Chinese state media that its H20 artificial intelligence chips are a national security risk for China.
