Futures Edge Higher on Inflation Data and Nvidia Earnings
Dow Jones futures are edging higher as traders position for two major events this week: the July personal consumption expenditures inflation report and Nvidia's earnings announcement, both scheduled for Tuesday, August 26.
The PCE inflation data will release at 8:30 a.m. ET on August 26, marking the Federal Reserve's preferred gauge of inflation. According to forecasts, core PCE is expected to show a 0.2% month-over-month rise, with economists tracking a year-over-year increase of 3.2%.
Nvidia is set to report Q2 earnings with $91 billion revenue expected, according to analyst consensus. Wall Street is anticipating a 97% year-over-year increase in revenue to nearly $92 billion, along with earnings per share around $1.01, a 49% year-over-year gain.