PCE Inflation Data, Nvidia Earnings, Canada Retaliates on Tariffs
By Jacqueline Policastro | Quincy News Correspondent
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Washington (Quincy News) — Market Recap: U.S. stocks closed higher Tuesday as technology shares rebounded and Treasury yields and oil prices declined. The Dow and S&P 500 each gained about 0.3%, while the Nasdaq rose 0.7%.
New-home sales fell 10.5% in July to their lowest level since January, while consumer confidence dropped to a seven-month low. Consumers’ 12-month inflation expectations rose to 5.8%.
Canada announced retaliatory tariffs of up to 50% on about $20 billion of U.S. goods starting Sept. 8, after new U.S. tariffs took effect Saturday and President Trump threatened 50% tariffs on Canadian autos starting Jan. 1.
Today’s Focus: Investors are watching a busy day of economic data and earnings. July PCE inflation, consumer spending and income, the second estimate of second-quarter GDP and durable-goods orders are due at 8:30 a.m. ET. The spending and income data will show whether consumers are continuing to spend despite elevated inflation and signs of weakening confidence.
Core PCE inflation is expected to remain at 3.3% annually, well above the Fed’s 2% target and a key consideration for policymakers weighing their next rate move. Fed Chair Kevin Warsh delivers the keynote address Friday at the annual Jackson Hole Economic Policy Symposium.
Nvidia reports earnings after the closing bell, with investors watching for signs that strong demand for AI chips is continuing.
ON THE SCHEDULE FOR WEDNESDAY, AUGUST 26, 2026
-8:30 a.m. ET – July durable-goods orders, second estimate of Q2 GDP and July PCE inflation
-Earnings – Nvidia, Salesforce and CrowdStrike
-Thursday, 8:30 a.m. ET – Weekly jobless claims and July Advance Economic Indicators
-Thursday earnings – Best Buy, Dollar General and Dollar Tree
-Friday morning – Fed Chair Kevin Warsh speaks at the Jackson Hole Economic Policy Symposium
-Friday, 10 a.m. ET – Final August University of Michigan Consumer Sentiment
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