News Bulletin
Tuesday, July 14, 2026
Evening Edition

Economic Numbers:

Time	Event	Actual	Forecast	Previous
Tuesday, July 14, 2026
8:15	ADP Employment Change Weekly	19.80K		21.00K
8:30	CPI (MoM) (Jun)	-0.40%	-0.10%	0.50%
8:30	Core CPI (MoM) (Jun)	0.00%	0.20%	0.20%
8:30	CPI (YoY) (Jun)	3.50%	3.80%	4.20%
8:30	Core CPI (YoY) (Jun)	2.60%	2.80%	2.90%
16:00	TIC Net Long-Term Transactions (May)	232.7B	128.5B	104.8B

Indices

	CLOSE	50 DMA	200 DMA
DJIA	52,508.66	51,028.50	48,670.08
NASDAQ	26,107.01	26,096.86	23,826.22
S&P 500	7,543.87	7,447.44	6,973.86

Earnings Calendar:

(EPS: Earning Per Share / Rev: Revenue / Mkt Cap: market Capital/ BMO: Before Market Opening /AMC: After Market Close)

COMPANY	EPS Act	EPS Fore	Rev Act	Rev Fore	Mkt Cap	Time
JPMorganJPM:US	7.7	5.42	57.35B	48.78B	$981.98B	AM
Bank Of AmericaBAC:US	1.21	1.1	31.6B	30.19B	$466.36B	AM
Goldman SachsGS:US	20.98	13.74	20.34B	15.73B	$364.32B	AM
CitigroupC:US	3.15	2.67	24.77B	23.33B	$253.66B	AM
IBMIBM:US	2.93	3.01	17.2B	17.84B	$196.76B	PM
Wells FargoWFC:US	2	1.71	22.62B	21.83B	$144.86B	AM
FastenalFAST:US	0.33	0.33	2.39B	2.34B	$51.88B	AM

Market News:

U.S. stocks on Tuesday ended higher, as investors sifted through a host of developments including key economic data on inflation, a Federal Reserve Congressional testimony, a continuously evolving situation in the Middle East, and quarterly updates from household names such as Goldman Sachs, JPMorgan, and IBM.

The benchmark S&P 500 index climbed 0.4% to close at 7,544.63 points, while the tech-heavy NASDAQ Composite added 0.9% to settle at 26,107.01 points. The blue-chip Dow Jones Industrial Average concluded just above the flatline at 52,508.66 points.

U.S. consumer prices moderate in June

The spotlight in the morning was on the U.S. consumer price index (CPI) report for June.

According to the Bureau of Labor Statistics, the headline CPI slipped 0.4% M/M, representing the largest one-month decrease since April 2020. Core CPI, which strips out volatile food and energy components, was flat in June after rising 0.2% M/M in May. Economists had expected the headline CPI to fall 0.1% and the core CPI to rise 0.3%.

On a Y/Y basis in June, headline CPI ticked up 3.5% and core CPI increased 2.6%. Both figures were lower than the estimates for a rise of 3.8% and 2.9%, respectively, and decelerated from May.

As widely expected, the fall in the headline CPI mainly reflected a slide in gasoline prices, which declined 9.7% M/M in June, the biggest one-month decrease since August 2022. That in turn helped overall energy prices slip 5.7% M/M in June, the largest one-month loss since April 2020.

The slump in gas prices was driven by the U.S. and Iran signing an interim memorandum of understanding (MoU) in mid-June that led to reopening of the Strait of Hormuz, a vital waterway for a fifth of the world’s oil and gas. Improved shipping activity through the chokepoint eased supply concerns and led to Brent crude futures, the global oil benchmark, sliding more than 20% last month.

Inflation dynamics have rapidly shifted this month, however, amid the biggest escalation in tensions between Washington and Tehran since they inked their MoU.

The two sides have exchanged several rounds of strikes over Iran’s reported attacks on commercial oil tankers transiting the strait, while President Donald Trump has reimposed an American naval blockade on the country’s ports and coastline. That move led to Brent surging more than 9% alone on Monday.

Still, the cooler June inflation report gives the Fed some breathing room in terms of tightening monetary policy.

"For the Fed, the June CPI report likely provides cover to hold rates steady at the decision late this month. One of the bellwether FOMC governors, Chris Waller, stated in a speech yesterday that the Fed would need to see several cooler inflation prints to refrain from raising rates in the second half of 2026. The June CPI report is a big step in that direction," Bill Adams, chief U.S. economist at Fifth Third Commercial Bank, said.

"The outlook for inflation in July is less promising. Gas prices have jumped since the re-escalation of the Iran conflict last week. WTI crude is back over $80 today for the first time in a month," he added.

Echoing Waller, Chicago Fed President Austan Goolsbee on Tuesday said that while the June report showed encouraging signs, one month of data was not sufficient to determine if inflation was returning to the central bank’s 2% target.

Warsh reiterates fight against inflation at Congressional testimony

New Fed Chair Kevin Warsh on Tuesday also remarked on the June CPI update, calling it "positive relative to expectations."

Warsh commented at his testimony to the House Financial Services Committee. The hearing comes at a crucial time for the central bank. In June, it held its key policy rate steady at 3.50%-3.75%, but struck a decidedly hawkish tone by guiding for interest rate hikes this year, largely due to inflation running well above its 2% target. Warsh in his public appearances and remarks ahead of the testimony had stuck to that hawkish tone.

"Inflation is a choice," Warsh said in the testimony, adding that monetary policymakers "need to choose lower prices." The new Fed chief reasserted that the central bank would "deliver price stability" through a "function of commitment, responsibility, and tools."

Additionally, Warsh once again pushed back against forward guidance. In June and later in another public appearance, he had said the Fed would stop issuing such guidance moving forward.

"If we were to give you my projection today about what we’ll do when we meet in two weeks, what we’ll do over the course of the year, we then find ourselves sort of taking information that’s consistent with our priors and rejecting information that’s inconsistent," Warsh said, referring to the Fed’s upcoming monetary policy committee meeting on July 28-29.

Trump scraps plan for 20% Hormuz protection reimbursement fee

Turning away from inflation and the Fed to the Middle East, President Donald Trump on Tuesday said a "full" blockade on ships entering and exiting Iranian ports will be reimposed, and that the U.S. will enter into trade and investment deals with Gulf countries instead of getting a 20% reimbursement fee for protecting ships through the Strait of Hormuz.

The U.S. leader had first floated the idea of being reimbursed on Monday. Trump told reporters that after his announcement, he was contacted by Gulf nations.

"I put It out yesterday, I thought it was good. I was called by different people, different countries, kings and emirs ... And they said ’we’d love to do it a different way. We’d love to invest in the United States with billions and billions of dollars,’" Trump said at a bilateral meeting with the Prime Minister of Iraq.

"’We would like to invest tremendously in the United States as opposed to charging a fee.’ And I liked that actually, because I don’t think anybody should be able to charge a fee for the strait or for any other strait relationship, in terms of other sections of the world. I don’t think anybody should be really in that position. But we were doing it as a reimbursement," the president said.

IBM craters, Goldman Sachs and JPMorgan advance

Shifting the focus away from the Middle East, there were several notable moves among individual stocks on Tuesday as the second quarter earnings season started in earnest.

The top five U.S. banks by consolidated assets highlighted today’s slate. Number one and two lenders JPMorgan and Bank of America comfortably beat top- and bottom-line estimates, helped by a surge in trading activity and dealmaking.

Meanwhile, Citi, Wells Fargo, and Goldman Sachs, the number three to five U.S. lenders by consolidated assets, easily topped profit and revenue expectations as well. The banks were also helped by raking in fees from their roles in managing SpaceX’s record-breaking initial public offering.

The stocks of the five banks put in a mixed performance after the earnings reports. JPMorgan ended 2.5% higher, while Goldman Sachs surged 9.1%, buoying the blue-chip Dow. Bank of America gained 1.9%, but Wells Fargo slipped 2.7%, and Citi shed 5.3%.

Countering the boost to the Dow from JPM and GS was a more than 25% slide in shares of IBM. The legacy tech firm unveiled preliminary quarterly revenue that fell short of the consensus, largely due to an unexpected, aggressive reprioritization of enterprise IT budgets toward hardware infrastructure.

IBM noted that in the final weeks of June, clients abruptly redirected their quarterly capex away from traditional software and mainframe cycles to pile cash into servers, storage, and memory.

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