US Stocks Tread Water Ahead of Key Earnings Report
The US stock market is expected to remain cautious ahead of several key events, including Nvidia's earnings report and the latest PCE inflation data. The S&P 500 futures fell by 0.02% on Wednesday morning as investors waited for these market-moving announcements.
Nvidia's results are particularly important for the Nasdaq, which has been driven by the AI-related spending of major technology companies. A decline in Nvidia's earnings could put pressure on semiconductor and tech shares, while a strong report would likely boost investor confidence in the AI-driven market rally.
The PCE inflation data is also being closely watched as it will influence expectations for the Federal Reserve's next policy moves. Economists expect core PCE inflation to rise by 3.3% year over year in July, according to Reuters.