US stocks fall amid inflation and Nvidia earnings prep

U.S. stock indices slightly declined after the release of high inflation data, as the July Personal Consumption Expenditures (PCE) Price Index report showed prices rose by 0.2% month-over-month and 3.7% year-over-year, surpassing economists' expectations. These figures are expected to influence the Federal Reserve's upcoming interest rate hike decisions, while investors await the release of NVIDIA's earnings today, a major component of the S&P 500 index. The market is also focused on Fed Chair Jerome Powell's remarks, scheduled for Friday, which could impact future monetary policy.