On a record-setting day for the S&P 500 and Nasdaq, Carl Quintanilla and Jim Cramer delved into a number of big stories: JPMorgan Chase, Wells Fargo and Citi kick off earnings season

with Q2 beats. Nvidia shares hit new all-time highs after the chipmaker said the U.S. is giving it the green light to resume sales of its H20 AI chips to China. CPI data show consumer inflation

rose in June, but largely in line with economists' expectations. Also in focus: JPMorgan Chase CEO Jamie Dimon talks regulation and stablecoins on the company's earnings call,

Meta CEO Mark Zuckerberg on the company's AI hiring spree, Amazon-backed Anthropic's AI rollout, Jim Cramer's message for Apple CEO Tim Cook, stocks caught up in a downgrade parade.

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Ryan Turri, Velocity Invitational