"A higher inflation reading would likely boost expectations of a hike in September and December and thereby putting pressure on equity and bond prices"

S&P 500 futures fell 0.1% as markets await chipmaker earnings from Applied Materials, Lumentum, and Cisco alongside key CPI inflation data.

S&P 500 futures rise 0.2% as traders await July CPI data that could determine whether the Fed hikes rates in September 2026.

Nvidia partners Lumentum, Super Micro, CoreWeave were big earnings winners.