DJIA up 88.30 points (Il Sole 24 Ore Radiocor) - New York, 27 Aug - US shares were trading lower as investors remained on the sidelines ahead of a key earnings report from AI giant Nvidia.

Nvidia results, on tap tomorrow, are seen as a potential market mover given the chip designer's role this last year in driving stocks higher on the back of AI frenzy.

Investors are also setting out their stalls for a series of key data readings due later this week including a second GDP reading, jobless claims and, critically, the inflation gauge favored by the Federal Reserve.

On Friday, Fed chief Jerome Powell signalled the time was right for an interest rate cut, but did not say when or by how much. Friday's PCE price index could cemment, or sink, growing hopes of a 50 basis point cut in September rather than just a quarter point.

In data today consumer confidence unexpectedly rose to 103.3 in August from 101.9 in July, topping expectations for a reading of 100.9.

While home prices lost momentum though the rate of increase remains high while consumer confidence and the Richmond Fed manufacturing index are due later.

At 1735 GMT, the Dow Jones was losing 88.30 points, or 0.21%, at 41,152.22 points.

The S&P 500 was 3.36 points, or 0.06%, lower at 5,613.48 points.

The Nasdaq was down 24.72 points, or 0.14%, at 17,701.05 points.

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(RADIOCOR) 27-08-24 19:41:37 (0538) 5 NNNN