Markets Watch Inflation Data as Musk Targets Apple and AMC Eyes AI Expansion

Wall Street is poised for a higher open today ahead of key inflation data. Investors await the release of the July Consumer Price Index, expected to show moderate price increases compared to last month. However, core inflation, which excludes food and energy, is projected to have risen at its fastest pace in six months. This comes after a losing day for markets, with the Nasdaq ending a three-day winning streak.

The positive sentiment in futures trading comes as investors largely brushed off President Donald Trump’s announcement of a 90-day extension to the tariff truce with China.

In the tech world, Elon Musk says he plans to sue Apple for allegedly keeping his X platform and Grok AI chatbot out of the App Store’s “must-have” section. Musk claims X is the world’s top news app, and Grok ranks fifth among all apps, accusing Apple of favoring OpenAI in what he calls an antitrust violation. Apple has not commented, though the company has partnered with OpenAI to integrate ChatGPT into its products.

Meanwhile, AMC Entertainment CEO Adam Aron says the company has only begun to tap the potential of artificial intelligence. During an earnings call, he outlined plans to use AI for dynamic pricing, film scheduling, and customer service improvements. AMC is also exploring small investments in AI companies connected to the movie industry.

Explore: NBCPalmSprings.com, where we are connecting the Valley.