Wall Street: PCE Inflation Hits Targets, Nvidia Numbers in Focus
The price inflation for July is within expectations and does not provide a new inflation shock. After the stock market close, Nvidia reports its quarterly results - expectations are high.
US stocks start nearly unchanged, as July's PCE price inflation meets expectations. Attention shifts to Nvidia, which is set to report earnings after market close, with high expectations. JP Morgan predicts a strong beat-and-raise quarter for Nvidia, with revenue between $94-95 billion and a new outlook of $107-108 billion. Meanwhile, oil prices ease with Brent crude falling 3% to around $86 after Iran and Oman signal progress on a Hormuz Strait agreement.
Intuit's disappointing sales outlook pressures software stocks, with JP Morgan downgrading its rating and cutting its price target.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
