Nvidia Rallies, Inflation Remains Elevated, Meta Settles
By Tom LoBianco | Quincy News Correspondent
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Washington (Quincy News) — Market Recap: U.S. stocks finished little changed Wednesday as investors weighed the latest inflation data and awaited Nvidia’s earnings. The Dow fell 0.2%, while the S&P 500 and Nasdaq were roughly flat.
The PCE price index rose 3.7% from a year earlier, slightly above expectations, while core PCE rose 3.3%, in line with forecasts. Second-quarter GDP growth was unchanged at a 1.5% annual rate. For consumers, the inflation data suggests prices are still rising faster than the Fed would like, keeping pressure on household budgets.
Nvidia reported stronger-than-expected earnings after the close and forecast continued rapid revenue growth, sending its shares up about 7% in premarket trading Thursday.
Meta shares gained about 1% after the company agreed to a settlement of up to $18 billion with U.S. states over allegations that Facebook and Instagram negatively affected children’s mental health.
Today’s Focus: Weekly jobless claims and July advance wholesale inventory data are due at 8:30 a.m. ET, as investors look for further signs on the strength of the labor market and economy. The annual Jackson Hole Economic Policy Symposium also begins Thursday, ahead of Fed Chair Kevin Warsh’s keynote address Friday.
Best Buy reported stronger-than-expected second-quarter earnings Thursday morning, with adjusted earnings of $1.47 a share. The retailer also raised its full-year sales and profit forecasts.
ON THE SCHEDULE FOR THURSDAY, AUGUST 27, 2026
-8:30 a.m. ET – Weekly jobless claims and July advance wholesale inventories
-Earnings – Best Buy, Dollar General, Dollar Tree
-Friday, 10 a.m. ET – 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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