US stock futures tick higher ahead of July CPI data, expected to show core inflation rising to 3%. Markets hover near records, with the Nasdaq at a fresh high. Nvidia (NVDA) and AMD (AMD) reportedly agree to give the US 15% of China chip sales revenue in exchange for export licenses. Intel (INTC) CEO Lip-Bu Tan is set to meet with President Trump after calls for his removal over China ties. Citi raises its S&P 500 year-end target to 6,600, citing tax cut offsets to tariffs. Cava (⁠CAVA⁠) and On Holding (⁠ONON⁠) earnings are on deck, along with key IPOs CoreWeave and Circle. Paramount (PARA), Tesla (TSLA), and Coinbase (COIN) are trending.

Takeaways:

CPI data expected to tick up; Fed watching tariff impact on inflation

Nvidia, AMD to give US share of China chip sales for export clearance

Intel CEO meets Trump; Cava, On Holding earnings in focus; IPOs CoreWeave, Circle loom

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