Stock Market Today: Dow off 140 points, S&P 500 and Nasdaq lower as bond yields rise; PCE inflation data ticks higher in July and investors await Nvidia earnings
The Dow dropped 140 points while the S&P 500 and Nasdaq also declined as bond yields rose. This downturn follows the release of the Federal Reserve's preferred inflation gauge, which showed core prices rose 3.3% annually in July. Investors are now focusing on upcoming after-close earnings reports from Nvidia, Salesforce, and CrowdStrike. Market volatility is further influenced by elevated energy costs and geopolitical tensions involving a war in Iran and ongoing US trade disputes. Brent Crude prices have fallen to $85 per barrel.
Listen to Live Briefing
Real-time synthesized voice briefing · Live Feeds Desk
- ✓ Core prices rose 3.3% annually in July according to the Fed's preferred inflation gauge.
- ✓ Nvidia, Salesforce, and CrowdStrike are scheduled to report earnings after the market closes.
- ✓ Brent Crude dropped to $85.
What changed
July core PCE inflation rose 3.3% annually and Brent Crude dropped to $85.
Live updates
-
US Indices Decline as July Core PCE Inflation Hits 3.3%
The Dow dropped 140 points while the S&P 500 and Nasdaq also declined as bond yields rose. This downturn follows the release of the Federal Reserve's preferred inflation gauge, which showed core prices rose 3.3% annually in July. Investors are now focusing on upcoming after-close earnings reports from Nvidia, Salesforce, and CrowdStrike. Market volatility is further influenced by elevated energy costs and geopolitical tensions involving a war in Iran and ongoing US trade disputes. Brent Crude prices have fallen to $85 per barrel.
Why it matters
The PCE data serves as a primary indicator for Federal Reserve interest rate decisions. Nvidia's financial results are viewed by investors as a barometer for the broader artificial intelligence trade. These factors combined create a high-stakes environment for tech valuations and monetary policy expectations.
What is confirmed
- Core prices rose 3.3% annually in July according to the Fed's preferred inflation gauge.
- Nvidia, Salesforce, and CrowdStrike are scheduled to report earnings after the market closes.
- Brent Crude dropped to $85.
Still unconfirmed
- Nvidia stock fell 1% ahead of its report.
- Inflation is elevated due to energy costs, a war in Iran, and US trade fights.
What to watch next
- Nvidia earnings report results
- Salesforce and CrowdStrike earnings reports
- Federal Reserve reaction to the 3.3% core PCE rise
confidence 90%Sources used for this update (10)
- MarketWatch — Stock Market Today: Dow, S&P 500 and Nasdaq set for steady start ahead of PCE inflation data as Nvidia, Salesforce and CrowdStrike to report after close
- WSJ — Stock Market Today: Brent Crude Drops to $85, Investors Await Nvidia Earnings — Live Updates
- Bloomberg.com — Nvidia Earnings Give Investors a Barometer for State of AI Trade
- CNBC — Fed’s preferred inflation gauge shows core prices rose 3.3% annually in July
- The New York Times — Inflation Remains Elevated as Energy Costs Push on Prices
- AP News — Key inflation gauge remains elevated during Iran war and ongoing US trade fights
- Al Jazeera — US inflation remains sticky in July
- MarketWatch — Nvidia earnings are only hours away. Here’s everything you need to know.
- Investor's Business Daily — Nvidia Down 1% Ahead Of Report (Live Coverage)
- Yahoo Finance — Nvidia Earnings Today: Analyst Expects ‘Monster Beat,’ Eyes 3 Key Updates From Jensen Huang That Could ‘Move The Needle’ For NVDA Stock
Community Sentiment: How do you assess this situation?
Voice your perspective · Real-time aggregated sentiment from the Live Feeds community