Jim Cramer highlights wholesale inflation dip and ASML surge for July

Wholesale inflation fell 0.3% month‑over‑month in June, beating expectations for a flat reading, while ASML shares rose more than 3% after a blowout quarter and upgraded full‑year guidance. The moves set the tone for equity futures, commodity prices and bond yields on July 15 [1].

Inflation surprise and commodity backdrop

The 0.3% decline in U.S. wholesale inflation was the first negative reading since the prior month and contrasted with analysts’ flat forecast. The drop was driven largely by lower gasoline prices, which also eased pressure on consumer‑price expectations. The softer inflation print followed yesterday’s CPI release, reinforcing a narrative of easing price pressures that typically supports equity valuations and reduces upward pressure on Treasury yields.

Semiconductor rally and corporate headlines

ASML, the Dutch supplier of extreme‑ultraviolet lithography machines, posted earnings that exceeded both top‑ and bottom‑line expectations, prompting a >3% pre‑market gain and a second upgrade to its full‑year outlook this year. The stock’s rise reflected broader market optimism toward semiconductor equipment makers, a sector that has been “fabulous for years” according to Cramer. He also flagged Morgan Stanley’s earnings beat—though its stock slipped slightly after a prior rally on Goldman Sachs results—and noted BlackRock’s $192 billion net inflow in Q2, lifting its AUM to $15.3 trillion and pushing its shares up 5% in pre‑market trading.

Other notable items

Cramer’s list also covered a mixed earnings landscape for banks, a downgrade of IBM after a 25% plunge, and a joint bid by Stripe and Advent International for PayPal at $60.50 per share, valuing the payments firm at over $53 billion. He highlighted Johnson & Johnson’s beat‑and‑raise on its Tremfya drug despite a 2% stock dip, and noted Eli Lilly’s obesity drug Foundayo lagging behind Novo’s Wegovy in early efficacy data.

What to watch

• Upcoming U.S. CPI and core inflation releases later this week for further price‑trend clues.
• ASML’s upcoming earnings call and any guidance revisions that could affect the semiconductor supply chain.
• Federal Reserve commentary on inflation and potential rate adjustments, which could swing bond yields and the dollar.

The divergence between a soft inflation reading and strong semiconductor earnings underscores a market balancing act: price pressures are easing, yet growth in high‑tech equipment remains a key driver of equity performance. How the Fed interprets these mixed signals will shape market direction in the days ahead.