Dow Holds Steady Amid Elevated Inflation and Watchful Eyes on Nvidia

The Dow Jones Industrial Average held steady at the open on Wednesday as investors digested inflation data and awaited Nvidia's quarterly earnings report.

Inflation remains above the Federal Reserve's target, with the personal consumption expenditures price index rising 0.2% in July to an annual rate of 3.7%, according to the Commerce Department.

This is 0.1 percentage point higher than the Dow Jones consensus estimate and pushes inflation above the Fed's 2% target.

Nvidia, the largest S&P 500 company with a market capitalization over $5 trillion, is set to report its fiscal second-quarter earnings after the bell on Wednesday.

Investors will be looking for signs of whether Nvidia's rapid revenue growth can continue, as well as evidence that AI infrastructure spending remains strong enough to support the company's momentum.