Stock futures inch lower as investors await bank earnings, inflation reading: Live updates

U.S. stock futures ticked lower Monday night following a winning session for the major averages, as investors await big bank earnings and a key inflation reading.

Dow Jones Industrial Average futures fell by 63 points, or 0.14%. S&P 500 futures and Nasdaq 100 futures each dipped 0.1%.

Wall Street is coming off a positive session Monday, with stocks managing to eke out a gain even after President Donald Trump threatened a 30% tariff on the European Union and Mexico starting Aug. 1. The Dow Jones Industrial Average rose 88 points, or 0.2%. The S&P 500 gained 0.1%, while the Nasdaq Composite climbed about 0.3%.

“You're at the point where the president is talking again about higher tariff rates. That's going to take the effective tariff rate up even higher than we currently anticipated to be,” Dan Greenhaus, chief strategist at Solus Alternative Asset Management, told CNBC's “Closing Bell” on Monday. “So, my argument would be, while we determine exactly what that level is going to be, after a truly historic rally off the lows, some breather is is in order.”

Still, investors are hoping that a second-quarter earnings season that comes in better than expected will boost a stock market that's at all-time highs. Expectations are low heading into the season. The S&P 500 is projected to post a blended earnings growth rate of 4.3% on a year-over-year basis, according to FactSet data.

The big banks are set to kick off the season this week, with JPMorgan Chase, Wells Fargo and Citigroup among the companies on Tuesday set to deliver quarterly reports. On Wednesday, Bank of America, Goldman Sachs and Morgan Stanley will also release results.

Investors are keeping a close eye on the June consumer price index, due Tuesday morning, seeking clues on how the Trump administration's tariffs have been affecting prices. The metric is expected to show a 0.3% monthly increase and a 2.7% headline reading, according to Dow Jones consensus estimates. Any upside surprise in last month's numbers could spook a market that has yet to see any tariff impact on inflation.

June consumer price index set to release Tuesday

June's consumer price index could be the first to show the tariff impact. Here are what economists polled by Dow Jones are expecting:

• Headline: 0.3% monthly increase, 2.7% increase on an annual basis
• Core: 0.3% monthly increase, 3% gain on an annual basis

The inflation reading is due out Tuesday at 8:30 a.m. ET.

Expectations are low heading into second quarter earnings

Companies have a low bar to clear this earnings season.

The S&P 500 is projected to post a blended earnings growth rate of 4.3% in the second quarter, on a year-over-year basis, according to FactSet data. That would be the lowest for the index going back to the fourth quarter of 2023, when it was just 4.0%.

The Trade Desk surges on news of addition to the S&P 500

Advertising tech company The Trade Desk will become part of the S&P 500, effective before trading opens on Friday, July 18, according to S&P Dow Jones Indices.

Joining the broad market index tends to lift a company's share price: The Trade Desk jumped 14% in extended trading following the announcement.

Just last week, Wall Street firm Stephens predicted that The Trade Desk could be a potential contender to join the S&P 500's communications services sector, which is an underweight grouping in the index.

The Trade Desk will replace software company Ansys, which is on track to be acquired by Synopsys on or about Thursday.