This week is set to be pivotal for investors, with significant earnings reports from major players in technology and retail sectors dominating the calendar. The spotlight will be on Nvidia, a leading force in artificial intelligence, as it is poised to announce its quarterly earnings on Wednesday. Recently, Nvidia’s performance has sparked volatility in the stock market, driven by concerns over corporate valuations in the booming AI sector. In its last earnings report, Nvidia slightly surpassed expectations, allaying fears regarding the sustained demand for AI technology.
In addition to Nvidia, several retail giants are preparing to release their earnings, with Walmart scheduled for Thursday’s announcement. The world’s largest retailer recently announced a leadership change, with John Furner set to take over as CEO in February, succeeding Doug McMillon. Notably, Walmart’s shares reached an all-time high in October, showcasing its resilience amid economic fluctuations.
Other key retailers reporting this week include Target, which has seen leadership changes in recent earnings, and Home Depot, which raised its outlook due to increased demand for home improvement amidst a recovering housing sector. Lowe’s Companies will also report its earnings on Wednesday, alongside discount retailers like TJX Companies and Ross Stores.
On the economic front, the reopening of the U.S. government after a prolonged 43-day shutdown is expected to have a significant impact. The shutdown was the longest in U.S. history and halted essential government economic reports. With the government back to work, crucial data collection will resume, although it’s uncertain whether government agencies will adhere to their usual reporting schedule this week. Some economic reports may still face delays due to the shutdown’s aftermath.
Nonetheless, investors can anticipate key reports related to the housing market, including existing-home sales data for October, anticipated to be released on Wednesday. The housing market has remained stagnant, with sales lingering at near-decade-low levels for over two years. Additionally, housing starts data, which reflects new home construction, is also set to come out this week, though it may be affected by lingering delays from the shutdown.
Market watchers will be keen to analyze the minutes from the Federal Open Markets Committee’s October meeting, which will shed light on discussions surrounding interest rate decisions—a topic that has shown to cause divisions among officials. Moreover, the final consumer sentiment report for November will be scrutinized, particularly in the wake of the government shutdown’s impact on public confidence in the economy.
The week’s calendar features several key economic events and earnings releases. Notably, the schedule includes:
- Monday (Nov. 17): Empire State manufacturing survey and earnings from XPeng and Aramark.
- Tuesday (Nov. 18): Homebuilder confidence index and earnings from Home Depot, Medtronic, Baidu, and others.
- Wednesday (Nov. 19): Existing home sales and earnings from Nvidia, Target, Lowe’s, and more, alongside the anticipated housing starts data.
- Thursday (Nov. 20): Philadelphia Fed manufacturing survey and Walmart’s earnings report, among others.
- Friday (Nov. 21): Final consumer sentiment report for November and earnings from BJ’s Wholesale.
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