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Happy Wednesday. Stock futures were lower as investors prepared for the release of Nvidia’s (NVDA) quarterly results.
The U.S. headline Personal Consumption Expenditures (PCE) price index increased 0.2% from June to July and rose 3.7% from a year earlier. Core PCE, which excludes food and energy prices, increased 3.3% year over year, unchanged from June.
Chris Zaccarelli, chief investment officer for Northlight Asset Management, said that while many of the PCE numbers were worse than expected, the most important measure — core PCE — “held constant and that will give the Fed more time to leave rates on hold.”
“This is an extremely busy week – especially for one in late August, when it is typically more quiet – with the largest company in the world reporting earnings this afternoon, a meaningful inflation data release this morning and a consequential speech from the Chair of the Federal Reserve, which is scheduled for Friday,” he said.
Daniela Hathorn, senior market analyst at Capital.com, said Nvidia’s earnings report “is arguably bigger than a single-company earnings report given Nvidia’s role as a barometer for the entire AI investment cycle.”
“Investors will be looking beyond headline revenue and earnings towards data-center demand, margins, next-generation chip supply and, crucially, whether hyperscaler spending remains strong enough to justify the extraordinary amounts of capital flowing into AI infrastructure,” she said.
“Expectations are extremely high, meaning even another strong quarter may need equally convincing guidance to sustain the rally.”
Stocks closed higher on Tuesday, driven by a rebound in technology stocks.
This story was originally published by TheStreet on Aug 26, 2026, where it first appeared in the Stock Market Today section. Add TheStreet as a Preferred Source by clicking here.
