Latest improvement on inflation isn’t ‘mission accomplished,’ Warsh says

• Wall Street indices rose as investors reacted positively to softer inflation data and strong bank earnings, helping the Nasdaq recover from a previous 1.6% decline. • The Philadelphia Semiconductor Index (SOX) surged 3.1%, signaling a stabilization in chip stocks, though IBM experienced a significant plunge.

• The S&P 500 rose 0.37% to 7,542.79 on Tuesday, July 14, 2026, driven by a cooler-than-expected June Consumer Price Index (CPI) report. • Market gains were supported by resilient second-quarter profits from major financial institutions, including JPMorgan Chase, Goldman Sachs, and Bank of America.

• Wall Street investors are awaiting the release of the June U.S. CPI report on July 14, 2026, scheduled for 1:30 PM GMT. • Goldman Sachs forecasts indicate that the upcoming inflation data may be interpreted as moderately dovish by the market.

• IBM shares plummeted 25% on July 14, 2026, after the company issued a disappointing earnings forecast. • The stock price fell to $215.73, though GF Value analysis suggests the company remains undervalued by 9.9% compared to a fair value of $239.47.

• U.S. stock futures showed mixed results on Tuesday morning, with Dow Jones Industrial Average futures falling approximately 0.9% and S&P 500 futures slipping 0.2%. • Market volatility is being driven by rising oil prices and the anticipation of upcoming June inflation data.

• Major financial institutions saw stock surges after exceeding their Q2 earnings forecasts, while June inflation data showed a cooling trend. • In contrast, IBM shares stumbled following a reduction in the company's future outlook.

• IBM shares plummeted over 25% on Tuesday after the company signaled that its second-quarter revenue would likely miss Wall Street expectations. • Preliminary results project quarterly revenue of $17.2 billion, falling short of the $17.86 billion estimate forecasted by analysts according to LSEG data.

• U.S. stock markets, including the Dow Jones, S&P 500, and Nasdaq, closed higher following a combination of robust bank earnings and softer inflation data for June. • The Nasdaq outperformed other indices, driven primarily by gains in chip stocks and easing expectations for further interest rate hikes.

• On July 14, 2026, IBM issued a surprise alert forecasting a revenue shortfall for its second-quarter financial results. • The announcement triggered a sharp market reaction, causing IBM shares to plunge by more than 20%.

• IBM stock plummeted more than 25% following the company's preannouncement of its second-quarter (Q2) earnings results. • The sharp decline occurred as investors reacted negatively to the preliminary financial data released by the tech giant.

• Major banks reported strong revenue growth driven by equities trading, with Goldman Sachs highlighting a significant surge in investment banking activity. • CEO David Solomon announced that Goldman Sachs' deals backlog has reached its highest level in five years, signaling strong potential for future revenue.