Market Open: Stocks Mixed, IBM Sinks on Warning; June Inflation Cools • 7/14/26

Summary

The CNBC Business News Update covers a mixed market open with IBM plunging 24% after a business warning, cooling June inflation at 3.5%, blowout bank earnings, and geopolitical tensions over Iran and Strait of Hormuz tolls. The positive market reaction to inflation is tempered by oil price volatility. Bank results point to consumer resilience, while IBM's decline signals a shift in enterprise spending.

• Major averages mixed: Dow dragged by IBM's 24% crash, S&P 500 and Nasdaq up modestly.
• IBM warned of software/infrastructure weakness as clients shift spend to servers, storage, and memory ahead of price hikes.
• June CPI cooled to 3.5% year-over-year, well below prior 4.2%, driven by a sharp decline in energy prices.
• Core commodities rose 0.8%, led by a 0.5% surge in new vehicle prices.
• New Fed Chair Kevin Walsh told Congress inflation will be a thing of the past.
• Big banks (JPMorgan, Citigroup, BofA, Goldman, Wells Fargo) reported blowout quarterly profits, citing resilient U.S. consumers.
• Shipping industry alarmed over Trump's plan to impose 20% transit tolls through Strait of Hormuz.
• World Cup semifinal tickets commanding thousands of dollars on the secondary market.