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Futures: Dow down 0.07%, S&P 500 up 0.36%, Nasdaq up 0.58%

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Nvidia ( NVDA ) surges as H20 chip sales to China set to resume

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BlackRock ( BLK ) rises as assets hit record

(Updates with prices)

By Pranav Kashyap and Nikhil Sharma

July 15 (Reuters) -

Futures tied to the Nasdaq and the S&P 500 hit record highs

on Tuesday as the second-quarter earnings season began and

investors awaited upcoming inflation data that could influence

the Federal Reserve's policy moves.

At 6:53 a.m. ET, S&P 500 E-minis were up 22.5

points, or 0.36% to reach an all-time high. Dow E-minis

were down 32 points, or 0.07%.

Nasdaq 100 futures also rose 0.58% to record highs,

powered by a jump in Nvidia ( NVDA ) after the chip designer

announced plans to restart sales of its H20 AI chip to China.

The company's shares were up about 5% in premarket trading.

The news also lifted other chipmakers, with Advanced Micro

Devices ( AMD ) rising 4.5%, Marvell Technology up 2.7%

and U.S.-listed shares of TSM gaining 2.3%.

Wall Street kick-started another earnings season with major

financial institutions reporting results. JPMorgan Chase's ( JPM )

shares remained steady after the company lifted its net

interest income forecast for 2025.

Additionally, Wells Fargo's ( WFC )

profit rose

in the second quarter as it set aside less money to shield

for potential bad loans. However, its shares slipped 1.1%.

Meanwhile, BlackRock's ( BLK ) assets under management

touched a new high,

hitting $12.53 trillion

in the second quarter on prospects of trade deals and

interest-rate cuts in the United States. Its shares were down

0.9%.

Despite President Donald Trump's renewed tariff threats -

this time aimed at Russia - markets largely brushed off the

rhetoric, focusing instead on a breakthrough from negotiations

with U.S. trade partners.

Hopes were buoyed after Trump signaled willingness to talk,

following his weekend warning of 30% tariffs on the European

Union and Mexico starting August 1.

On Monday, all three indexes closed higher, with the Nasdaq

finishing at a record high.

All eyes are on the June consumer price report, due at 8:30

a.m. ET, that will allow investors to assess how Trump's tariffs

have affected price pressures.

Economists surveyed by Reuters expect headline inflation

accelerated to 2.7% last month on a year-over-year basis, up

from 2.4% in May, while core inflation is forecast to tick up to

3% from 2.8%.

Elias Haddad, senior markets strategist at Brown Brothers

Harriman, noted that the effect of tariffs on inflation has been

muted, but stuck to the view that "higher U.S. levies is a

downside risk to U.S. growth and upside risk to inflation."

The odds of a July rate cut have faded, while markets are

pricing in a roughly 60% chance of a move in September,

according to CME FedWatch.

Later in the day, at least four Fed officials, including

Board Governor Michael Barr, are scheduled to speak, potentially

offering fresh clues on the central bank's next steps.

Among other movers, Trade Desk ( TTD ) surged 14.6% after

the software firm was set to join the benchmark S&P 500 index

.