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Futures: Dow down 0.06%, S&P 500 up 0.38%, Nasdaq up 0.61%

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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, analyst comment before the opening bell)

By Pranav Kashyap and Nikhil Sharma

July 15 (Reuters) - The Nasdaq and the S&P 500 were

poised for a higher open on Tuesday after fresh inflation data,

while banking heavyweights kicked off the second-quarter

earnings season.

A Labor Department report showed U.S. consumer prices rose

as expected on a monthly basis in June. Annually, the prices

rose 2.7%, compared with an estimated 2.6% rise.

The core figure, which excludes volatile food and energy

components, rose 0.2% on a monthly basis and 2.9% from a year

earlier, but the gains were below estimates.

"There's little evidence that some of the tariff inflation

is beginning to creep in," said Peter Cardillo, chief market

economist at Spartan Capital Securities.

"So, (the) bottom line (is), the tariff inflationary aspect

still needs to be monitored."

The odds of a July rate cut have almost become nil, while

markets are still pricing in a roughly 60% chance of a move in

September, according to CME FedWatch.

At 8:42 a.m. ET, S&P 500 E-minis were up 23.75

points, or 0.38%, while the Dow E-minis were down 29

points, or 0.06%.

Nasdaq 100 futures also rose 0.61%, 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 5% in premarket trading.

The news also lifted other chipmakers, with Advanced Micro

Devices ( AMD ) rising 5.3%, while Marvell Technology

and U.S.-listed shares of TSM rose 2.1% each.

Wall Street kick-started another earnings season with major

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

shares slipped 0.3%, even as the company lifted its net

interest income forecast for 2025.

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 fell 3.6%.

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 2.8%.

Citigroup's ( C/PN ) profit jumped in the second quarter as

its traders brought in a windfall from turbulent markets. The

lender's shares rose 1%.

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 from August 1.

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

finishing at a record high.

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 12.7% after

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

.

(Reporting by Pranav Kashyap and Nikhil Sharma in Bengaluru;

Editing by Maju Samuel and Shinjini Ganguli)