Inflation Ticks Up as Fed Rate Hike Looms Amid Strong Earnings

The US dollar and Treasury yields rose on Wednesday as inflation figures reminded investors that the Federal Reserve could raise interest rates soon.

U.S. inflation, as measured by the PCE index, came in slightly hotter last month than expected at 3.7% annual rate.

Nvidia's quarterly revenue and earnings beat estimates, but shares fell after its gross margin forecast was reduced to 74% from 75% in Q2.