Futures were mixed as IBM’s steep decline after a profit warning weighed on sentiment, while easing inflation expectations and enthusiasm for AI-linked stocks helped steady risk appetite despite higher oil prices.
US stock futures were mixed as investors balanced caution ahead of June consumer price index data and testimony from Federal Reserve Chair Kevin Warsh against signs of easing inflation and continued strength in AI-linked shares. IBM, once seen as one of the market’s steadiest blue-chip names, posted its biggest-ever decline on Tuesday after a profit warning, but the selloff did little to shake broader investor optimism. Oil prices were also expected to remain elevated as attacks continued in the Strait of Hormuz and Iran moved to shut down an energy-supply workaround. S&P 500 futures fell 0.1%, Nasdaq 100 contracts rose 0.5%, and Dow futures were lower, while Brent crude traded above $86 a barrel. Investors were also monitoring strong big-bank earnings from JPMorgan Chase and Bank of America.