US futures higher ahead of inflation data this week, Nvidia and AMD fall on China chip revenue deal

US futures edge higher ahead of key inflation data; Nvidia, AMD fall on China chip revenue deal

Ahead of key inflation numbers later this week, the Dow Jones futures were higher by 0.2 percent, while S&P 500 futures and Nasdaq 100 futures were flat a short while ago on August 11, keeping the benchmark indices within striking distance of all-time highs after last week’s rally led by Apple.

Sentiment was dampened by a Financial Times report that Nvidia and AMD had agreed to share part of their revenue from certain chips sold in China in exchange for export licenses. Nvidia shares slipped roughly a percent in premarket trading, while AMD fell 2 percent.

Investors are bracing for the consumer price index on Tuesday and the producer price index on Thursday, data that Fed watchers say could be pivotal in deciding whether rates move at the September meeting. “The most important thing is the CPI data,” said Jay Woods, chief global strategist at Freedom Capital Markets. “That will definitely dictate monetary policy.”

The data will arrive ahead of the Fed’s Jackson Hole symposium on August 21–23, where policymakers are expected to signal their stance on inflation and growth heading into autumn.

In corporate news, C3.ai tumbled nearly 30 percent in the premarket, after forecasting weaker-than-expected fiscal first-quarter revenue and a wider loss. Adobe slipped over a percent after Melius Research downgraded the stock to 'Sell', warning that artificial intelligence is eroding demand for traditional software.

Shares linked to ether prices rallied after the cryptocurrency surged above $4,000 for the first time since December 2021, buoyed by strong ETF inflows and renewed institutional interest in Ethereum-based applications.

Asia-Pacific Markets

Across Asia, markets ended mixed as investors awaited clarity on whether the August 12 deadline for the US-China tariff truce would be extended or not. Japan’s Nikkei 225 jumped 1.85 percent, while Australia’s S&P/ASX 200 rose 0.43 percent and Hong Kong’s Hang Seng Index edged up 0.2 percent. Mainland China’s Shanghai Composite gained 0.34 percent, and the Nifty 50 index climbed 0.91 percent while South Korea’s Kospi dipped marginally.