London Stocks Rise as Investors Eye US Inflation and Nvidia Results

London's stock market is set to open higher on Wednesday as investors await key data from the US, including inflation figures and Nvidia's quarterly earnings. The FTSE 100 index is expected to rise by around 13 points at the opening bell.

The Brent crude oil price has dropped 1.8% to $87.05 a barrel due to reports of an impending deal between Iran and Oman on securing the Strait of Hormuz, a key shipping route. However, the US's latest measures against Iran have been seen as less aggressive than expected, which has put pressure on oil prices.

Nvidia is set to release its quarterly results after the close of US markets, with analysts predicting a 'monster' revenue report exceeding $92.05 billion. The results will provide insight into demand for AI infrastructure and Nvidia's management of competition from China.

Investors are also watching the release of July's core PCE inflation data, which is closely monitored by the Federal Reserve as its preferred measure of inflation. This data may reset market expectations on interest rates.