Wall Street slips as July inflation tops forecasts; Nvidia beats

Wall Street closed with slight losses on Wednesday after July inflation data came in higher than expected. The Dow Jones fell 0.21%, the Nasdaq dropped 0.08%, and the S&P 500 slipped 0.02%. Nvidia reported second-quarter earnings that beat analyst estimates, with adjusted earnings per share of $2.22 and total revenue of $96.22 billion. The company forecast third-quarter revenue of $108 billion, excluding data center sales in China. The inflation figures raised concerns about potential interest rate moves, while Nvidia's results highlighted continued strength in artificial intelligence investments. The chipmaker's guidance suggests robust demand despite geopolitical restrictions.