Wall Street Today | Nvidia warns of sales shortfall as gaming revenue drops, shares tumble

Respondents' median expectation in July was for an annual inflation rate of 6.2% in one year, down from the 6.8% they expected in June, the regional reserve bank said Monday. They expected inflation in three years to be at 3.2%, down from the 3.6% they expected in June, and inflation in five years to be at 2.3%, down from a previous 2.8%.
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Congress is set to depart for its August recess soon without acting on a bipartisan antitrust bill targeting the largest U.S. technology companies. Senate Majority Leader Chuck Schumer (D., N.Y.) plans to hold a vote on the legislation when Congress returns this fall. But the shrinking number of legislative days available plays to the advantage of the tech companies, which can declare victory if Congress doesn't act.
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The three biggest clean energy exchange-traded funds in the US based on assets surged as the landmark tax, climate and healthcare bill made its way to Congress. The $iShares Global Clean Energy ETF(ICLN.US)$, the $First Trust Nasdaq Clean Edge Green Energy Index Fund(QCLN.US)$ and the $Invesco Solar ETF(TAN.US)$ rose by roughly 14%, 16% and 17%, respectively, from July 25 to Aug. 8.

$NVIDIA(NVDA.US)$ shares dipped 8% on Monday morning after the company released preliminary earnings that show second-quarter revenue of $6.7 billion, well below its initial outlook of $8.1 billion. The chipmaker said the shortfall primarily reflects weaker-than-forecast gaming revenue, which is down 44% sequentially and 33% from the prior year.
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The company spent just $33 million on payments connected to acquisitions in its last fiscal year and $169 million in the first nine months of the current year, according to regulatory filings. That's down from $1.5 billion in fiscal 2020. $Apple(AAPL.US)$

$American Airlines(AAL.US)$ said it expects to take its first delivery of a $Boeing(BA.US)$ 787 Dreamliner as soon as Wednesday, its first after a long pause in deliveries of the jet that has created headaches for airlines and the manufacturer.
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$SOFTBANK GROUP CORP(SFTBF.US)$ on Monday disclosed that it sold its remaining stake in U.S. ride-hailing giant $Uber Technologies(UBER.US)$ as the Japanese conglomerate looks to raise cash amid mounting losses at its investment unit.

$Pfizer(PFE.US)$ Inc. has agreed to buy $Global Blood Therapeutics(GBT.US)$ Inc. for $5.4 billion, in a deal that would give the big drugmaker a foothold in the treatment of sickle-cell disease.
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