1. Nvidia (NVDA) will release Q2 earnings, with focus on AI chip demand and China market impact; 2. Key economic data includes revised Q2 GDP and July core PCE inflation gauge; 3. Investment analysis highlights undervalued AI plays like Alibaba (BABA) and Micron (MU) through The Data Driven Investor's portfolio.

1. The S&P 500 and Nasdaq 100 are cautiously trading ahead of Nvidia's earnings and US PCE data. 2. Nvidia's earnings could significantly impact the AI sector and set the market tone for the coming weeks. 3. Technically, the S&P 500 is nearing all-time highs, with Nvidia potentially acting as a catalyst for new highs.