HSBC says Wednesday’s CPI report could give markets the next dovish spark. The bank expects another tame inflation reading after June’s softer print, a setup that could push rate-hike expectations further out of the market’s path.
The potential market read is classic Goldilocks: inflation cool enough to keep the Fed patient, but not so weak that it screams recession. HSBC says that could pull Treasury yields lower, steepen the curve, and give risk assets another reason to keep climbing.
Apple (Nasdaq: AAPL) got a counterpunch to the iPhone-cancelation scuttlebutt, with Bloomberg reporting that the company still plans a glass-heavy iPhone redesign for the device’s 20th anniversary next year. The newer Pro models are expected to use glass across the front and back, curving into the sides around a metal band, while a more ambitious all-glass version was reportedly scrapped earlier because it could not scale cleanly in production.
Taiwan Semiconductor (TSMC) and Sony are deepening their Japan chip partnership, according to a report in the Wall Street Journal. The companies have clinched a $4.69 billion JV to develop and manufacture next-gen smartphone image sensors in southern Japan. Sony will control the venture and invest about $2.92 billion through cash and asset transfers, including its new Kumamoto chip factory, while TSMC will invest roughly $1.77 billion. Volume production is expected to begin in 2029, giving the deal a long runway.
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Stocks are holding steady as traders balance tentative progress around the Strait of Hormuz with whether the U.S. and Iran can move beyond a narrow energy-route deal toward a broader resolution. S&P 500 futures edged up 0.1%, while Nasdaq-100 futures gained 0.3% and Dow futures added 34 points, or 0.1%. Investors are not quite ready to chase the rally, but they are also not rushing to unwind risk.
Oil also settled into a wait-and-see pattern. WTI hovered near $82 a barrel, while Brent held around $87, with both benchmarks slightly lower as traders watched for clearer signs that Middle East tensions are truly easing.
Here’s a look at where things stand as of pre-morning trading:
Dow Futures: 54,108 Up 0.09%
Nasdaq 100 Futures: 29,844 Up 0.36%
S&P Futures: 7,789 Up 0.16%
Intel (Nasdaq: INTC) is moving quickly after Monday’s 5% stock drop, pricing an upsized $20 billion common-stock offering at $95 per share after initially announcing a $15 billion raise. The company said proceeds will go toward general corporate purposes, but the timing keeps the focus squarely on AI infrastructure demand and the steep capital bill facing chipmakers trying to rebuild scale.
IBM (NYSE: IBM) is putting a bigger AI workload marker on its cloud business, signing a $240 million multiyear deal with Together AI to launch a dedicated large-scale inference cluster on IBM Cloud. The build will run on NVIDIA (Nasdaq: NVDA) HGX B300 systems and Spectrum-X Ethernet networking, with availability expected in Q1 2027. IBM is trying to make its cloud more relevant in the inference economy, while NVIDIA keeps showing up as the hardware layer behind the next wave of AI factories.
Joby Aviation (NYSE: JOBY) is widening its defense footprint with a deal to acquire Resonant Sciences, a Dayton-based advanced radio frequency and mission systems company.
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Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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