I'm Carl Kintanilla. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern.

Happy Monday. Welcome to Tech Check. I'm John Fort with Julia Borsden. Carl and Deirdre are off.

Today, Nvidia shares plummet and a surprise pre-announcing results for the second quarter.

We are going to dive into those numbers and the chip sector more broadly. See it they're down

7%. Plus Palantir also deep in the red. A 26% jump in revenue, not enough to impress investors.

We'll have a look at a few high growth names that Wall Street is bullish on. Palantir down

almost 12%. And finally, while some are selling private equity is buying.

Avalera plans to be taken private in a deal valued at more than $8 billion. We will discuss what that

deal means for the rest of the software space. We're going to start with some breaking news, though,

out of the New York Fed. Steve Leesman has that for us.

Morning, Steve.

Thanks, John.

Yeah, the New York Fed out with a consumer expectations survey and finds that inflation expectations registered.

Their biggest drop on record, this series goes back to 2013.

Inflation expectations punch for gasoline, for food, and for home prices. Here are the numbers.

Down zero six on the one year at 6.2%. That's the one year ahead inflation expectations. That's still too high, but it's come down. Three year at three point two percent down zero point four and the five

year down by half a point. That's the one I think

the Fed focuses most on and is most concerned about it and going to be heartened to see it moving

towards its 2% target. Expectations also improved for household income for the job market,

but declined a bit for spending, John. So this is something that I think the market

wants to see, gives the Fed a little breathing room and also shows how tied these expectations are

to gasoline. John? Oh, for sure. Lots of different data to consider to start a new week. Steve,

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