US stocks steady before Nvidia earnings

U.S. stocks are holding steady ahead of NVIDIA's earnings announcement, as investors await the company's performance amid increasing challenges from rising inflation and higher interest rates. Inflation data for July showed that the core and headline personal consumption expenditure indices increased by 0.2% month-over-month, with an annual rise of 3.3%, significantly above the Federal Reserve's 2% target. Additionally, GDP growth remained steady at 1.5% in the second quarter, while durable goods orders increased by 1.1%. The market is closely watching NVIDIA's upcoming results, which could significantly impact the AI sector and economic growth, especially after tech stocks retreated due to concerns over the sustainability of demand for AI technologies.

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