Pre-market Stock News Recap: CPI Data Below Expectations, IBM Revenue Miss Drives Sharp Decline

BlockBeats News, July 14th, a summary of pre-market important news in the U.S. stock market:

1. U.S. June Non-seasonally Adjusted CPI YoY 3.5%, expected 3.8%. Traders are delaying Fed rate hike bets until October;

2. Fed Chair Powell stated that the Fed has "zero tolerance" for persistent high inflation and maintains a cautious stance on AI prosperity;

3. IBM (IBM.N) fell over 20% in pre-market trading. The company's preliminary revenue for the second quarter was $17.2 billion, below the expected $17.86 billion;

4. Goldman Sachs (GS.N) rose over 2% in pre-market trading. The company's second-quarter equities sales and trading revenue were $7.42 billion, exceeding the expected $5.02 billion;

5. KeyBanc raised the price targets of several AI chip stocks, with Arm's target price increased to $430 and Micron Technology (MU) to $1750;

6. New York will temporarily ban the construction of large new data centers;

7. SK Hynix accelerates HBM4 production for NVIDIA;

8. NVIDIA establishes a new customer "whitelist" in Asia. After a new round of reviews, customers in Singapore, Malaysia, and Japan approved to purchase AI chips have been reduced by more than half;

9. Trump plans to strengthen control of the Strait of Hormuz, while U.S. strategic oil reserves have dropped to the lowest level since 1983.