NVDA China Sales 'Soon', Big Bank Earnings

Author

Tom White
July 15, 2025

U.S. stock futures are higher in the premarket amid a rally in Nvidia (NVDA) shares as investors parse through big bank earnings and a key inflation reading.

Nvidia shares are 4% higher in the premarket after the chip company said it will resume H20 AI chip sales to China “soon.”

“The U.S. government has assured NVIDIA that licenses will be granted, and NVIDIA hopes to start deliveries soon,” the company said in a statement Tuesday.

And JPMorgan Chase (JPM) shares are flat after beating earnings estimates and raising its net interest income guidance.

Aside from bank earnings, investor focus will be on CPI data which is expected to show a 0.3% monthly increase and a 2.6% headline reading, according to consensus estimates.

Morning Movers

Snapshot (as of 7 AM ET)

  • Oil (/CL) – Oil prices are down 0.1% near $66.90 a barrel as the market digests U.S. President Donald Trump’s 50-day deadline for Russia to end the Ukraine war and avoid sanctions on buyers of its oil, while worries continued to linger over Trump’s trade tariffs.

  • Gold (/GC) – Gold prices are up 0.2% near $3370 as concerns over the global trade war fueled demand for safe-haven assets, while investors await a key U.S. inflation reading. 

  • Bitcoin (/BTC) – The Crypto Future is down over 2% near 117K in the premarket. Bitcoin Futures hit a record above 123K yesterday but have pulled back sharply.

  • VIX – The CBOE Volatility Index rose nearly 5% on Monday and settled at 17.20 despite a rise in stocks.

  • U.S. Dollar (/DX) – The dollar is flat at 97.8.

Biggest Premarket Movers

Symbol

Product

Mark % Change (as of 7 AM ET)

AMD

Advanced Micro Devices

+5.10%

NVDA

Nvidia

+4.68%

SMCI

Super Micro Computer

+4.06%

WFC

Wells Fargo

-2.10%

COIN

Coinbase

-1.53%

ENPH

Enphase Energy

-1.38%

Economic Data

Time

Event

8:30AM ET

CPI

Empire State Mfg. Index

9:15AM ET

Fed’s Bowman Speaks

12:45PM ET

Fed’s Barr Speaks

1:00PM ET

Fed’s Barkin Speaks

2:45PM ET

Fed’s Collins Speaks

Notable Earnings

Premarket

Postmarket

Premarket Tomorrow

Postmarket Tomorrow

ACI, BK, BLK, C, ERIC, JPM, STT, WFC

HWC, JBHT, OMC

ASML, BAC, FHN, GS, JNJ, MTB, MS, PNC, PGR, PLD

AIR, AA, KMI, SLG, UAL

Upgrades/Downgrades

  • JPMorgan upgrades Otis Worldwide (OTIS) to Overweight from Neutral

  • Roth Capital upgrades Zimmer Biomet (ZBH) to Buy from Neutral

  • BofA double upgrades National Fuel (NFG) to Buy from Underperform

  • Jefferies downgrades DoorDash (DASH) to Hold from Buy

  • Evercore downgrades Southwest Airlines (LUV) to In Line from Outperform

  • Morgan Stanley downgrades Freeport-McMoRan (FCX) to Equal Weight from Overweight

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