US stock market indices flat as Wall Street awaits NVIDIA Q2 earnings; July PCE inflation data slightly higher than expected
The S&P 500 was mostly flat on Wednesday morning ET, up 0.02%; the Nasdaq Composite was down 0.12%, and the Dow Jones Industrial Average was down 0.21%. Investors are awaiting NVIDIA's (Nvidia) Q2 FY2027 earnings report after market close tonight, with revenue expected to grow by approximately 97% year-over-year to $91.9 billion and EPS to double to $2.08. Earlier in the day, the July PCE Price Index was released, showing a 0.2% month-over-month increase and a 3.7% year-over-year increase, both slightly higher than economists' expectations; the core PCE index was flat month-over-month at 3.3%, in line with expectations. Additionally, Meta Platforms rose about 1% after the company settled a social media addiction lawsuit for $16.7 billion; gold and Bitcoin also fell, with the iShares Bitcoin Trust (IBIT) down 1.2% and the SPDR Gold Trust (GLD) down 1.6%.
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