US Stock Market Today: S&P 500 Futures Dip As Traders Eye Key Inflation Data
The Morning Bull - US Market Morning Update Wednesday, Jul, 15 2026
US stock futures are slightly weaker this morning, with E-mini S&P 500 contracts down about 0.1%, as investors weigh two big forces: upcoming inflation data and rising bond yields. The June Consumer Price Index, a key cost of living scorecard, is expected around 3.8% year on year, while core inflation is seen near 2.9%, which would signal prices are still elevated but not accelerating. At the same time, the 10 year Treasury yield is holding near 4.62%, keeping borrowing costs high as Middle East tensions support firmer oil prices. The key question is whether inflation cools enough for rate sensitive sectors like technology and smaller companies to stay in favor, or whether higher for longer yields push attention back to defensive areas such as utilities and parts of real estate.
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Top Movers
- CrowdStrike Holdings (CRWD) jumped 12.14% as cybersecurity stocks rallied sharply on Tuesday.
- Tower Semiconductor (TSEM) gained 11.24% after outlining a large Japan expansion of 300mm capacity.
- Okta (OKTA) surged 10.81%.
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Top Losers
- International Business Machines (IBM) slumped 25.21% after multiple downgrades and analyst debate on long term earnings power.
- Biogen (BIIB) declined 8.17% as CELIA Phase 2 data raised fresh questions around diranersen dosing and durability.
- Nebius Group (NBIS) fell 7.80% following New York's temporary moratorium on hyperscale data centers affecting AI operators.
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On The Radar
US inflation data and a packed slate of big bank and healthcare earnings are set to steer trading this week.
- US CPI and PPI on Wednesday and Thursday will help inform the rate path as markets weigh a possible Fed move.
- Fed Chair Warsh testimony on Wednesday provides fresh clues on rate guidance and how officials view current inflation.
- UnitedHealth Group (UNH) reports Q2 results pre-market on Thursday, highlighting healthcare costs and membership trends.
- Netflix (NFLX) posts Q2 results on Thursday after the close, updating the story on subscribers and content spending.
- Major regional banks, including PNC, M&T, and Morgan Stanley, report Wednesday and will draw attention to loan demand and funding costs.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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