U.S. stock futures are higher Wednesday as investors await the July CPI report, while strong results from CoreWeave (#CRWV) and Super Micro Computer (#SMCI) are reigniting the AI trade. The CPI report is expected to be the day's biggest market catalyst. 📊 Market Snapshot Dow Futures: +0.14% S&P 500 Futures: +0.28% Nasdaq 100 Futures: +0.71% 10-Year Treasury Yield: 4.66% VIX: 15.38 Brent Crude: ~$89 Gold: ~$4,468 Bitcoin: ~$64,237 Dollar Index: ~96.10 🔥 Key Market Movers July CPI: The July CPI report is due at 8:30 AM ET. Economists expect headline CPI to rise 0.1% MoM and 3.4% YoY, versus -0.4% MoM and 3.5% YoY in June. Core CPI is expected at 0.2% MoM and 2.5% YoY. The data could significantly shift expectations for the Fed's September meeting. CoreWeave is up sharply premarket after reporting its fifth consecutive quarter of record revenue and a $104B sales backlog. The company also raised its capital-spending outlook, reinforcing continued demand for AI computing infrastructure. Super Micro Computer is also higher after reporting strong fiscal Q4 results, with sales nearly doubling and an upbeat outlook supporting the AI-server trade. Strength in CoreWeave and Super Micro is lifting the broader AI complex, with #NVDA also higher in premarket trading. Other AI-infrastructure names including #IREN, #APLD and #NBIS are also in focus. Brent crude is hovering near $89, keeping inflation concerns elevated as uncertainty continues around reopening the Strait of Hormuz. Treasury Market: The 10-year Treasury yield is around 4.66%, slightly lower ahead of CPI. A hotter inflation reading could push yields higher and pressure growth stocks, while a softer reading could support rate-sensitive equities. 🎯 Market Theme AI momentum vs. inflation risk. Strong #CRWV and #SMCI earnings are providing a boost to technology and AI-infrastructure stocks, but today's CPI remains the key driver for rates and broader market direction. A softer-than-expected CPI could reduce September rate-hike concerns, while a hotter print could pressure Treasury yields and high-growth stocks.