Stock market news for July 15, 2025

The Dow Jones Industrial Average fell Tuesday as worries over U.S. inflation and a mixed bag of big bank earnings dragged the blue-chip index lower. The Nasdaq Composite, meanwhile, got a boost from gains in Nvidia.

The 30-stock Dow lost 436.36 points, or 0.98%, and closed at 44,023.29. The S&P 500 lost 0.40% and closed at 6,243.76, easing from a fresh record high reached earlier in the session. The Nasdaq was an outperformer, adding 0.18% and posting a record close of 20,677.80. The tech-heavy index was aided by a 4% rise in Nvidia shares after the chip company said it hopes to “soon” resume deliveries of its H20 GPU sales to China.

June inflation data released Tuesday represented an increase from May levels, despite the headline numbers matching expectations. The consumer price index increased 0.3% on the month, putting the annual inflation rate at 2.7%, matching a consensus poll from Dow Jones. So-called core CPI, which excludes food and energy prices, grew 0.2% month over month, slightly less than expected. Year over year, it expanded by 2.9%, matching estimates.

The print spurred fears about the impact of President Donald Trump’s tariffs. Trump on Saturday said the U.S. will impose a 30% tariff on goods from the European Union and Mexico starting Aug. 1.

“The latest U.S. inflation report practically confirmed that President Trump’s tariffs acted to push up consumer prices in June,” said Matthew Ryan, head of market strategy at global financial services firm Ebury.

“While there was a mild miss in the core number, both the main and underlying inflation measures are now printing at their highest levels in four months. The big fear for Fed officials is that stormier waters lie ahead, as not only is there a time lag between the tariffs and an increase to prices, but additional tariff hikes on 1st August would almost certainly herald further inflationary pressures ahead,” Ryan added.

Skyler Weinand, chief investment officer of Regan Capital, said it was a relief to see Tuesday’s CPI report coming in-line with expectations, but that “it’s highly likely that a tariff-driven inflation reckoning is coming.”

On the earnings front, reports from several financial heavyweights failed to impress investors.

Wells Fargo beat earnings, but a reduction in net interest income guidance sent shares lower by more than 5%. Shares of JPMorgan Chase edged lower even though the bank posted better-than-expected second-quarter results driven by strong trading and investment banking revenue. Asset manager BlackRock slipped nearly 6% on a quarterly revenue miss.

Citigroup bucked the negative trend in financials, rising more than 3% after the bank topped second-quarter estimates.

Wall Street is hoping that the second-quarter earnings season will boost a stock market that’s already near all-time highs. Expectations are low ahead of the reports, however. The S&P 500 is projected to post a blended earnings growth rate of 4.3% on a year-over-year basis, according to FactSet data. That would be mark the lowest growth rate for the index going back to the fourth quarter of 2023.