Article published at 9:23 a.m. CT
JJ Kinahan is Senior Vice President, Head of Retail Expansion and Alternative Investment Products at Cboe Global Markets, Inc. (Cboe).
Key Takeaways:
- Traders await Wednesday’s CPI report
- Nvidia shares rise after unprecedented financing engine
- Super Micro Computer to report after the bell
The market cooldown continues as investors take to the sidelines ahead of economic reports out later this week and an uptick in oil prices that is rekindling inflation fears.
In early trading, the three major indices shares were barely edging off the flat line after Monday’s modest shortfalls. The S&P 500 Index inched up 0.03% while the Dow Jones Industrial Average moved up 0.30% and the Nasdaq Composite retreated by 0.14%.
Today’s early activity echoes yesterday’s mostly mute session after last week’s rally amid notably lower volume. Summer trading is always light as traders soak up the last free days before school begins. When the dust settled Monday, all three major indices skidded into negative terrain, with the Nasdaq down 0.32%, the Dow slipping 0.11% and the S&P 500 off a pinch after Friday’s all-time closing high.
Traders appear to be waiting on the Consumer Price Index (CPI) report, a primary inflation gauge that comes out tomorrow.
Crude oil prices are moving slightly lower in early trading after jumping higher yesterday as talks in the Middle East appear to be on again/off again. In early trading, the WTI Crude Oil price was off 0.37% to the high-$81 per-barrel range.
Nvidia shares were moving higher in early trading as it launches an unprecedented capital engine to turn artificial intelligence into a new asset class that will help finance more than $500 billion for AI data center buildouts through third parties. The chipmaker corralled six of Wall Street’s financial powerhouses —Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR — to create dedicated pools of independent long-term capital to finance Nvidia’s customers’ efforts to build out AI infrastructure. In essence, that would create a “new class of productive, investable infrastructure: AI factories,” Nvidia Chief Executive Jensen Huang said in a statement. Shares of the participating financiers were moving mostly higher.
Riot Platforms shares advanced nearly 18% after Bloomberg reported the crypto miner inked a $9.1 billion to provide cloud computing to Anthropic. Late Monday, Riot turned in a 14% increase in revenues that beat Wall Street’s expectations but came with a net loss of $237 million tied to noncash expenses.
Keep watch on retail favorite Super Micro Computer’s earnings after the bell today. Wall Street expects robust earnings and revenues but will also be looking for what the cash burn is. There is plenty of interest in options, which are pricing in a 13% move in either direction, with buyers focusing on the 34 and 35 calls.
On Holding shares were slumping nearly 19% in early trading after the running shoe brand missed profit and sales expectations and pulled down its guidance.
Happy trading!
2026 Cboe Exchange, Inc. All rights reserved.
The information provided is for general education and information purposes only. No statement provided should be construed as a recommendation to buy or sell a security, future, financial instrument, investment fund, or other investment product (collectively, a “financial product”), or to provide investment advice.
