Nvidia Earnings and Inflation Data Set Stage for Market Volatility
U.S. stock index futures remained relatively stable on Wednesday as investors awaited key economic data and earnings reports from major companies.
The Personal Consumption Expenditures (PCE) report, which is the Federal Reserve's preferred inflation gauge, is expected to show a 3.3% year-over-year increase in July, according to economists polled by Reuters.
Nvidia, a leading AI chip manufacturer, will also release its quarterly earnings after markets close, and investors are closely watching for signs of slowing growth or a resurgence in the AI-fueled rally.
Nvidia's recent underperformance relative to other U.S. semiconductors is seen as a signal of market concerns about the sustainability of the AI investment boom, according to Marc Ostwald, chief economist and global strategist at ADM Investor Services.