US stock futures dip after July CPI is hotter than expected, with core inflation hitting 3.1% year-over-year. Markets now see a higher risk that the Fed will cut rates sooner under pressure from the White House. President Trump removes Intel (INTC) CEO Lip-Bu Tan from his AI advisory role, fueling speculation about leadership changes at the chipmaker. Treasury yields climb, gold steadies, and oil rises on supply concerns. Coinbase (COIN) jumps as crypto market cap tops $4.2 trillion, while Target (TGT) warns on tariffs ahead of earnings. Rivian (RIVN) and Roblox (RBLX) are also trending.

Takeaways:

CPI hotter than expected, reigniting Fed rate cut timing debate

Trump removes Intel CEO from AI advisory role; market eyes company’s next steps

Crypto rallies, oil gains, Target warns on tariff impact ahead of earnings

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