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CNBC Daily Open: It’s not completely bad news that Nvidia fell

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe  here .

Markets try to shrug off Nvidia
U.S. markets were mixed Thursday. The Dow Jones Industrial Average hit a new closing high, but the other two major indexes didn't fare as well. Asia-Pacific markets bucked the trend, climbing Friday. Hong Kong's Hang Seng index was the top performer, rising 1.8%. Separately, Tokyo's August inflation rose to 2.6%, the highest since March.

Outsized expectations
Nvidia shares lost around 6% Thursday despite the chipmaker posting quarterly revenue that was more than two times the figure a year earlier and the company announcing a $50 billion stock buyback, which usually pushes up share prices. That shows just how high investors' expectations for Nvidia were.

Intel's no longer inside
Intel, once the dominant semiconductor company, has been struggling in the wake of Nvidia's artificial intelligence-driven surge – its stock is down almost 60% this year. No surprise, then, that Intel executives are working with advisors from Morgan Stanley and other banks to come up with a turnaround strategy for the company.

Price vs. spending
July's consumer price index may have been a pleasant surprise, coming in at 2.9% for the year – lower than forecast and the slowest pace since March 2021. But the U.S. Federal Reserve pays more attention to the personal consumption expenditures price index, which comes out Friday. Here's what to expect.

[PRO] Utilities as an AI play
For investors who want to buy into the AI boom but missed the initial spike, utilities are a natural second option. AI

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