Nvidia Earnings, PCE Data Fuel Market Uncertainty Ahead of Jackson Hole
US stock futures barely budged on August 26 as investors awaited the release of PCE inflation data and Nvidia's quarterly earnings. The Dow Jones Industrial Average dipped 53 points, or 0.1%, while the S&P 500 slipped 0.1%. The tech-heavy Nasdaq Composite declined 0.2%.
The July PCE price index rose 0.2% from the previous month and 3.7% year-on-year, with both readings coming in 0.1 percentage point above economists' expectations. Core PCE, which excludes food and energy prices, increased 0.2% month-over-month and 3.3% annually, matching forecasts.
The inflation data comes as investors assess the outlook for US interest rates ahead of the Federal Reserve's annual Jackson Hole gathering. The latest figures could add to uncertainty over the pace of any policy easing, with markets closely watching upcoming comments from Fed officials.