The Dow Jones Industrial Average and S&P 500 fell slightly after markets opened today. And the Nasdaq slipped as well, ahead of Nvidia's earnings this afternoon. What a lot of market watchers are wondering today is: What's next for the AI boom?
Here is what is driving the markets today:
Nvidia earnings incoming: The world's most valuable company reports earnings after the bell today. Will this be a make-or-break moment for the AI boom? It's unclear. Nvidia's results don't move the market like they used to, And over the last four quarters, Nvidia's share price has averaged a 2.8% loss the day after earnings. The stock opened slightly lower today. Stay tuned for deep coverage of Nvidia's earnings report when it releases this afternoon.
Inflation, inflation, inflation: Personal-consumption expenditures data was released today, showing inflation held steady at 3.7% in July. We'll likely know more about Fed Chairman Kevin Warsh's thoughts on inflation and interest rates on Friday - when he gives a speech at Jackson Hole.