Stocks Edge Higher Amid Inflation Data, Nvidia Earnings Loom

Global stock markets rose slightly on Wednesday as investors weighed stronger-than-expected US inflation data and awaited earnings from chipmaker Nvidia.

The MSCI's gauge of global equities posted a marginal gain after US data showed annual inflation unexpectedly remained unchanged in July, staying above the Federal Reserve's 2% target for the 65th consecutive month.

James Ragan, co-chief investment officer and director of investment management and research at D.A. Davidson, said that 'the market has been looking for a reason to pull back a little bit.'

The data added to investor caution over the outlook for US interest rates.