Wall Street slips on US inflation, awaits Nvidia earnings

Wall Street’s main indexes closed slightly lower on Thursday, reacting to U.S. inflation data while investors awaited Nvidia’s earnings after the bell. The Dow Jones fell 0.21%, the S&P 500 slipped 0.02%, and the Nasdaq dropped 0.08%. Nvidia shares declined 1.59%, marking their eighth drop in nine sessions. Bank of America Securities noted that strong results and raised forecasts may already be priced in, with focus shifting to the company’s off-balance-sheet commitments for supply, energy, and demand. Other movers included Abercrombie & Fitch surging 36% on strong earnings, while Meta rose 1.07% after a $18 billion settlement with 48 states. Markets still expect the Federal Reserve to hold rates in September, following July’s higher-than-expected PCE inflation reading.