On today's episode of Wealth!, Host Brad Smith breaks down some of the biggest stories of the trading day, from Nvidia shares sinking to tightening consumer spending among Americans.

Nvidia (NVDA) shares are declining despite the company reporting a beat in its second-quarter results. Laffer Tengler Investments CEO and CIO Nancy Tengler attributes the stock's reaction to its recent rebound from lows leading up to the report: "It was set up for a disappointment on the Blackwell yield problem." However, she advises investors to view this weakness as an opportunity to acquire the stock for long-term holding.

Pending home sales fell 5.5% in July, a significant decline from the 0.2% gain economists were expecting. Middleburg Communities chief economist and former Fed economist Brad Case explains, "The problem with the owner-occupied market, which is what this morning's report was about, is that houses are simply too expensive. It's really, really difficult for somebody to justify putting out that kind of money for an asset whose price really can't be expected to perform very well going forward, given how much you're paying for it right now."

While consumer confidence has risen to a high in August, according to a TD Bank survey, 30% of Americans are cutting their spending due to concerns over the economy. TD Bank head of US credit cards and unsecured lending Chris Fred explains where the curbing of expenditures comes from: "We're also seeing consumers feel like they actually have the ability and the confidence to manage their finances. It's just a lot of work... it necessitates a fair amount of grit and work to be able to manage your cash flow and your finances, and so definitely see this this weighing on consumers, but... Americans continue to be quite resilient."

This post was written by Melanie Riehl