U.S. stocks hold near flat as investors await Nvidia earnings and July PCE data
AI Market Summary
US equities were range-bound as investors awaited Nvidia earnings and Jackson Hole remarks, with July PCE slightly above expectations but core PCE in line, leaving September pause odds near 60%. The modest inflation upside pushed short-end yields higher and weighed marginally on major indices. Nvidia's guidance is positioned as a key read-through for AI demand and broader risk sentiment in the near term.
Impact level
● High
Affected assets
NCSKNVDA2USD/USDT+7.59%
AI Insight · NCSKNVDA2USD/USDTAI Insight
● Neutral
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Major U.S. stock indexes traded in a narrow range on Wednesday as investors waited for Nvidia’s earnings report. The Fed’s preferred inflation gauge, the July PCE price index, rose 0.2% month over month and 3.7% year over year, slightly above expectations, while core PCE matched forecasts. Rate futures continued to imply about a 60% chance the Federal Reserve keeps rates unchanged next month, according to CME Group’s FedWatch.
