Wednesday’s inflation reading came in slightly above expectations, and Wall Street shrugged.
American stock markets are calm today as investors prepare for Nvidia (NASDAQ: NVDA) reporting Q2 2027 results after this evening’s closing bell
The S&P 500 (SNPINDEX: ^GSPC) is essentially unchanged, up 0.02% as of 11:59 a.m. ET. The Nasdaq Composite (NASDAQINDEX: ^IXIC) is down 0.12% and the Dow Jones Industrial Average (DJINDICES: ^DJI) has slipped 0.21%, putting a three-session winning streak at risk.
The morning’s inflation data was the kind that would normally get a reaction, but today’s response was a collective yawn. The Fed’s preferred gauge, the PCE price index, rose 0.2% in July and 3.7% over the past year, both a hair above what economists wanted. The core reading, stripped of food and energy, held at 3.3%, exactly as expected.