Wall Street dips on hot inflation data ahead of Nvidia earnings
U.S. stocks ended slightly lower after a hot inflation report cooled investor sentiment. Traders are now looking to Nvidia earnings for market direction. High energy costs, ongoing U.S. trade fights, and the war in Iran have kept inflation elevated, causing consumers to reduce spending in July. The impact extended to cryptocurrency, where Bitcoin fell from an $81,000 high to near $78,000 following the PCE inflation reading. International markets also reacted, with the ASX slipping amid calls for interest rate hikes.
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- ✓ Wall Street stocks ended slightly lower following the release of hot inflation data.
- ✓ Traders are awaiting Nvidia earnings for market direction.
- ✓ Inflation remains elevated due to energy costs, U.S. trade fights, and the war in Iran.
What changed
Wall Street shifted from a steady holding pattern to a slight decline after the release of hot inflation data.
Live updates
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Wall Street stocks dip following high inflation data
U.S. stocks ended slightly lower after a hot inflation report cooled investor sentiment. Traders are now looking to Nvidia earnings for market direction. High energy costs, ongoing U.S. trade fights, and the war in Iran have kept inflation elevated, causing consumers to reduce spending in July. The impact extended to cryptocurrency, where Bitcoin fell from an $81,000 high to near $78,000 following the PCE inflation reading. International markets also reacted, with the ASX slipping amid calls for interest rate hikes.
Why it matters
Market volatility is currently driven by the tension between persistent price pressures and anticipated corporate earnings. Investors are gauging whether elevated inflation will force further rate hikes. Nvidia's results are viewed as a critical indicator for the broader tech sector's trajectory.
What is confirmed
- Wall Street stocks ended slightly lower following the release of hot inflation data.
- Traders are awaiting Nvidia earnings for market direction.
- Inflation remains elevated due to energy costs, U.S. trade fights, and the war in Iran.
Still unconfirmed
- Consumers pulled back on spending in July due to price pressures.
- Bitcoin dropped from an $81,000 high to near $78,000 after a hot PCE inflation reading.
- The ASX slipped on calls for rate hikes.
What to watch next
- Nvidia earnings report
- Further PCE inflation data updates
- Federal Reserve commentary on interest rates
confidence 90%Sources used for this update (12)
- CNBC — Stock futures are little changed as traders await key inflation report, Nvidia earnings: Live updates
- Yahoo Finance — Stock market today: Dow, S&P 500, Nasdaq futures hold steady ahead of inflation data, Nvidia earnings
- Reuters — Wall St futures subdued as Nvidia results, inflation take center stage
- CNN — Consumers pulled back on spending in July in the face of continuing price pressures | CNN Business
- 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
- TradingView — Wall Street stocks end tad lower after hot inflation data ahead of Nvidia earnings
- Kiplinger — Stocks Look to Nvidia Earnings for Direction: Stock Market Today
- cryptonews.net — What Traders Are Watching for Bitcoin's Next Move
- www.aol.com — Trading Day: Hot inflation cools sentiment
- www.smh.com.au — ASX slips on rate hike calls; Qantas gains, Sigma slumps
- www.econotimes.com — Asia Roundup: Yen barely moves after BOJ comments on possible rate hikes, Asian stocks gain, Gold drifts higher, Oil extends losses-August 27th,2026
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