Dow Holds Steady Amid Elevated Inflation, Eyes on Nvidia Earnings

The Dow Jones Industrial Average held steady at opening Wednesday after inflation data for July exceeded expectations.

Inflation remains above the Federal Reserve's target of 2%, with the personal consumption expenditures price index rising by 0.2% on a seasonally adjusted basis in July, pushing the annual inflation rate to 3.7%.

The report also showed stronger-than-expected consumer activity, with personal income increasing by 0.4% and personal spending rising by 0.2% in July.

Nvidia is set to release its fiscal second-quarter earnings after the bell on Wednesday, which could have significant implications for investors due to the company's massive market capitalization of over $5 trillion and its weight in the broader market.