Opening Bell - 15 / 07 / 2026
About this episode
The episode discusses the impact of cooling inflation and strong bank earnings on the stock market, highlighting significant movements in major US indexes.
Cooling Inflation and Bank Earnings Fuel Wall Street Rally Major US stock indexes rose after June's Consumer Price Index (CPI) report showed a 0.4% monthly decline, bringing annual inflation down to 3.5%. The unexpectedly soft reading triggered a sharp shift in rate expectations, with the probability of a July Fed hike falling from 42% to 17%. Headline CPI fell 0.4% month-over-month in June — the largest single-month decline in over six years — driven by a 9.7% plunge in gasoline prices following the temporary US-Iran ceasefire that reopened the Strait of Hormuz. Core CPI rose just 2.6% year-over-year, below the 2.9% estimate. Fed Chair Kevin Warsh nonetheless stopped short of signalling rate cuts, reaffirming the Fed's commitment to price stability. Five of the largest US banks posted a combined 39% jump in quarterly earnings, powered by strong investment banking fees and equities trading revenue. Goldman Sachs led the rally, rising 9% to a new all-time high, while JPMorgan Chase and Bank of America also posted solid share-price gains on their results. The Nasdaq advanced 0.9% as semiconductor stocks rebounded from the prior session's sell-off, with Micron Technology and Lam…
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