US stocks traded mostly flat on Wednesday after PCE data showed inflation remained sticky in the lead-up to the Fed's Jackson Hole gathering and as investors counted down to Nvidia's (NVDA) earnings report.
The Dow Jones Industrial Average (^DJI) declined by 0.2%, while the S&P 500 (^GSPC) slid 0.1%. The tech-heavy Nasdaq Composite (^IXIC) fell 0.4% after posting broad gains on Tuesday.
Meta stock (META) wavered after the company agreed to settle a social media addiction trial for roughly $16.7 billion. The case revolved around allegations from 29 states that Meta developed products to hook young users, misled consumers about their safety, and improperly collected personal data.
Tech and chip stocks face their next test after the closing bell, when Nvidia opens its books in what has become a quarterly yardstick for the health of the artificial intelligence trade. Expectations are high heading into the earnings report, as investors increasingly focus on companies' ability to generate returns on their massive AI investments.
Markets ****** sed a new reading of inflation, meanwhile, from the Federal Reserve's preferred gauge. The core Personal Consumption Expenditures (PCE) Index, which excludes the volatile food and energy categories, rose 3.3% in July, which was in line with expectations and unchanged from the month before.
#meta #expectations
The Dow Jones Industrial Average (^DJI) declined by 0.2%, while the S&P 500 (^GSPC) slid 0.1%. The tech-heavy Nasdaq Composite (^IXIC) fell 0.4% after posting broad gains on Tuesday.
Meta stock (META) wavered after the company agreed to settle a social media addiction trial for roughly $16.7 billion. The case revolved around allegations from 29 states that Meta developed products to hook young users, misled consumers about their safety, and improperly collected personal data.
Tech and chip stocks face their next test after the closing bell, when Nvidia opens its books in what has become a quarterly yardstick for the health of the artificial intelligence trade. Expectations are high heading into the earnings report, as investors increasingly focus on companies' ability to generate returns on their massive AI investments.
Markets ****** sed a new reading of inflation, meanwhile, from the Federal Reserve's preferred gauge. The core Personal Consumption Expenditures (PCE) Index, which excludes the volatile food and energy categories, rose 3.3% in July, which was in line with expectations and unchanged from the month before.
#meta #expectations
2 months ago
