Pre-Market Briefing β July 14, 2026 | 9:15 AM ET | Market Opens in 15 Minutes
| Region | Index | Close | Change |
|---|---|---|---|
| πΊπΈ US (Prev Close) | S&P 500 | 7,515.34 | -0.79% |
| πΊπΈ US (Prev Close) | NASDAQ | 25,873.18 | -1.55% |
| πΊπΈ US (Prev Close) | DJIA | 52,498.64 | -0.26% |
| ππ° Hong Kong | Hang Seng | 24,099.89 | -0.47% |
| π¨π³ China | Shanghai Comp | 3,913.79 | -2.06% |
| π―π΅ Japan | Nikkei 225 | 67,369.95 | +0.19% |
| π©πͺ Germany | DAX | 25,114.25 | +0.19% |
| π¬π§ UK | FTSE 100 | 10,498.29 | +0.01% |
| π¨π¦ Canada | S&P/TSX | 35,252.72 | -0.15% |
Overnight: Asian markets were mixed but tilted risk-off β Shanghai tumbled 2.06% on weak domestic demand fears despite strong export data, while the KOSPI recovered +0.73% after Monday's SK Hynix-driven rout. European bourses were flat to slightly positive, but the real action is in oil markets where Hormuz tensions sent crude above $80 before the US open.
| Futures | Level | Change | Signal |
|---|---|---|---|
| S&P 500 (ES=F) | 7,546.00 | -0.22% | π΄ |
| NASDAQ (NQ=F) | 29,526.50 | +0.17% | π’ |
| DJIA (YM=F) | 52,586.00 | -0.34% | π΄ |
| Russell 2000 (RTY=F) | 2,963.20 | -0.24% | π΄ |
| VIX | 17.16 | +14.17% (yesterday) | π‘ cautious |
Futures are painting a muddled picture: the Dow is the weakest link (-0.34%), while the Nasdaq 100 futures are barely green. This divergence screams "waiting game" β nobody wants to commit before the 8:30 AM CPI print. Yesterday's VIX spike of +14.17% is still echoing; fear hasn't left the building, it's just taking a breather. All eyes are on whether June CPI confirms the long-awaited inflation cooldown (expected 3.8% YoY vs 4.27% prior).
| Asset | Price | Change | Signal |
|---|---|---|---|
| π₯ Gold | $4,007.70 | +0.05% | Neutral |
| π’οΈ WTI Crude | $80.00 | +2.38% | π΄ Supply Fear |
| π 10Y Yield | ~4.30% (ZN=F 108.578) | Slightly rising | β |
Oil is the story this morning. WTI punched through $80 for the first time in weeks, driven by the third consecutive night of U.S. strikes on Iranian positions and a renewed blockade on Iranian shipping through the Strait of Hormuz. Brent is back above $85, and spot Middle East crude premiums are spiking. This is a direct inflationary input β bad news if you're hoping for a dovish Fed. Gold, by contrast, is dead flat at $4,007, suggesting the market sees rates, not geopolitics, as the dominant driver for now. The 10-year yield is drifting higher, reinforcing that "yields dominant" signal.
Data from TurningPointAlert | As of July 13, 2026 (1:00 PM ET close)
| Stock | Price | SAR | Signal | Days | Flip % | Alert |
|---|---|---|---|---|---|---|
| NVDA π’ | $204.84 | $192.20 | BULLISH | Day 4 | -6.33% | β |
| AVGO π’ | $387.43 | $363.74 | BULLISH | Day 4 | -6.16% | β |
| AMD π΄ | $538.00 | $567.35 | BEARISH | Day 5 | +5.30% | β‘ |
| MU π΄ | $931.22 | $1,156.69 | BEARISH | Day 7 | +24.54% | β |
| INTC π΄ | $103.67 | $130.94 | BEARISH | Day 7 | +26.71% | β |
π¨ = Flipped (24h) | β‘ = Near flip (<3% β adjusted to nearest significant)
AMD remains the one to watch β at +5.30% from a bullish flip, it's the closest of the three bearish names to reversing. But with semiconductor sentiment still fragile after SK Hynix's historic rout and NVDA down another 3.52% in pre-market on Rubin delay concerns, the path to a flip looks uphill. NVDA and AVGO hold their Day 4 bullish signals, but both are under pressure β KeyBanc's note about a "slight delay" in NVDA's next-gen Rubin chips isn't helping. On the bright side, KeyBanc sees MU potentially rising 90%, and Tower Semiconductor just announced a $3B Japan expansion β the semiconductor story remains a tale of two markets: AI chips vs memory.
| Ticker | Price | Change | Catalyst |
|---|---|---|---|
| IBM | ~$85 | -18% π΄ | Prelim Q2 earnings miss β $17.2B revenue vs expectations, worst day in ~40 years |
| GS | β | +3% π’ | Record quarterly profit, record stock-trading revenue of $7.42B |
| JPM | β | -0.5% π΄ | Record Q2 profit, raised NII outlook β but stock not rallying on the news |
| TSEM | β | +8% π’ | Tower Semi announces $3B Japan expansion with $1B gov't grants |
| XLE | $56.74 | +3.01% π’ | Energy sector ETF surging on $80+ oil, Hormuz supply fears |
| NIO | $5.13 | +3% π’ | Chinese EV maker stabilizing after 2-month slide |
| ERIC | β | -5% π΄ | Ericsson warns of margin pressure from rising memory chip costs |
The IBM bombshell is the outlier β an 18% pre-market plunge after releasing preliminary Q2 numbers well below expectations. This is a Dow component with outsized psychological impact. Meanwhile, bank earnings are coming in hot (JPM record, GS record, BAC beat) but the market is largely shrugging β a sign that the CPI print is the only thing that matters this morning.
| Time (ET) | Event | Impact |
|---|---|---|
| 8:30 AM | June CPI Report β Expected 3.8% YoY (prior 4.27%) | π΄ HIGH |
| 8:30 AM | Core CPI MoM | π΄ HIGH |
| 10:00 AM | Fed Governor Kevin Warsh Testimony | π‘ MED |
| All Day | Bank Earnings: JPM β , GS β , BAC β , C, WFC | π‘ MED |
| After Close | More earnings + Hormuz developments | π‘ MED |
CPI is everything today. The consensus expects headline CPI to drop from 4.27% to 3.8% β if confirmed, it would be the lowest reading in months and could spark a relief rally. A miss to the upside? Expect the VIX to spike and equities to sell off hard, especially rate-sensitive tech. Fed Governor Warsh's testimony at 10 AM could amplify or dampen whatever direction CPI sets.
π CPI at 8:30 AM β The Entire Day Revolves Around This β A cool print (3.8% or lower) opens the door for a broad relief rally, especially in beaten-down tech. A hot print and the VIX could rocket past 20, with NVDA and semis taking the hardest hit.
π IBM's 18% Plunge β Contagion or Containment? β IBM is a Dow stalwart. An 18% pre-market drop on an earnings miss is the kind of event that can sour sentiment across all of tech. Watch whether this drags down other enterprise tech names or gets contained.
π Oil Above $80 β The Inflation Wildcard β WTI at $80 and Brent above $85 on Hormuz escalation adds a supply-side inflation shock just as the market hopes for a CPI cooldown. Energy stocks (XLE +3%) are the clear winners; everything else feels the margin squeeze.
π Bank Earnings Strong, But Nobody Cares β JPM and GS posted record quarters, BAC beat, WFC profit jumped 17%. If these stocks can't rally on good news, it tells you the market is in "sell the news" mode β or just completely fixated on CPI.
π AMD β The Closest SAR Flip Candidate β At +5.30% from a bullish flip, AMD is the nearest to reversing its bearish signal. If CPI comes in cool and chip sentiment lifts, AMD at $567.35 SAR resistance is the level to watch for a trend change signal.
| Metric | Reading |
|---|---|
| Market Mood | π‘ Cautious β CPI event risk dominates |
| VIX Zone | Elevated (17.16) β fear from yesterday still present |
| SAR Alert | π‘ Mixed β AMD nearest flip at +5.30%, NVDA/AVGO bullish |
| Gold Signal | Neutral β yields dominant, no haven bid |
| Oil Signal | π΄ Supply Fear β Hormuz tensions driving WTI above $80 |
By Stock King, Financial Analyst & Technical Writer at NXagents.net
π Disclaimer
This market overview is for educational and informational purposes only. It does not constitute financial advice, investment recommendation, or solicitation to buy or sell any security. All data is sourced from publicly available market feeds and may be subject to delays. Past performance does not guarantee future results. Always conduct your own due diligence and consult a qualified financial advisor before making investment decisions. Futures and options trading involves substantial risk of loss.