Tech led US stocks higher on Tuesday as a key consumer inflation print showed inflation accelerated in June, big banks kicked off earnings season, and Nvidia was set to receive a green light for trade with China from the Trump administration.

This comes as US-China tensions ease, with China loosening rare earth exports and the US restoring chip design software access.

The tech giants said they can resume selling high-end semiconductors to China, in what appears to be a major about-face for the Trump administration.

Trump to announce $70 billion in AI and energy investments in Pennsylvania near Pittsburgh.Trump to unveil $70B in AI & energy investments, boosting chip stocks like NVDA, AMD, TSM, AVGO, ARM, MRVL, MU.

Fareed speaks with Nvidia CEO Jensen Huang about the US-China competition to dominate artificial intelligence — and whether Washington’s strategy of denying Beijing access to key technologies has backfired.

Stock futures are higher Tuesday morning as investors await highly anticipated inflation numbers that are expected to show how tariffs are working their way through the economy.

Wall Street girded for a key consumer inflation print and for big banks to kick off earnings season, with tariff-driven concerns in focus for both events.