US EQUITY OPEN: Indices open slightly in the red after a deluge of data ahead of NVDA earnings

OPEN: US indices opened with slight losses after a slew of data and ahead of earnings from Nvidia after-hours. Sectors are mixed as Industrials and Materials sit atop of the breakdown, while Communication Services and Health lag; the former is weighed by slight pressure in Meta as it agreed to a multi-billion dollar settlement over claims that its platforms harm children. Recapping the data, core PCE was in line with expectations, while headline was a tenth hotter on both the M/M and Y/Y metrics. Durable goods impressed, and point to still-solid investment, although core capital goods disappointed. GDP data was largely unchanged, albeit with a modest rise in the price index that pushed up nominal growth. The Dollar Index is firmer against most G10s, with the Swissy and Kiwi the underperformers, while the Aussie is the clear G10 gainer post-data; Aussie CPI beat estimates, remaining above the RBA’s 3% upper inflation target with the RBA’s preferred measure, trimmed mean, unchanged at 3.6% Y/Y above expectations of 3.5%. The crude complex extends on Tuesday's losses, with precious metals also in the red. Treasuries are softer ahead of the 5yr note auction. Elsewhere, Fed's Barkin is scheduled with the pivotal aforementioned NVDA numbers after-hours. STOCK SPECIFICS: Intuit (INTU): Dismal next Q & FY guidance Zoom Communications (ZM): Next Q outlook light, disappointing investors hoping its expanded product suite would drive stronger growth Kohl's (KSS): Rev. light; profit topped & raised guidance, but tariff refunds have done a lot of heavy lifting Abercrombie & Fitch (ANF): Strong Q metrics w/ strong guidance J M Smucker (SJM): Top & bottom line beat alongside raising FY outlook Solar Edge Technologies (SEDG): Upgraded at UBS Boston Scientific (BSX): Identified a cybersecurity incident affecting certain of its information technology systems that has resulted in a global disruption to the company's operations. States and Meta (META) and agree to settle claims that platforms harmed children, according to a court filing; Meta agrees to pay a maximum of USD 16.68bln to states as part of deal.