Investors on Wall Street are gearing up for a crucial week packed with high-stakes corporate earnings and a flood of significant economic data. The spotlight shines brightest on the artificial intelligence giant Nvidia, whose results will test the market's appetite for high-flying tech stocks.
Earnings in the Spotlight: Nvidia and Retail Giants
The week's main event is the earnings report from Nvidia Inc., scheduled for release on Wednesday. The AI chipmaker's figures will be intensely scrutinized by investors worldwide. This comes at a time when persistent worries about stretched valuations in the technology sector are causing market jitters.
Beyond the tech world, major American retailers will also step into the earnings arena. Market participants will closely watch results from Walmart, Target, and Home Depot for clues on consumer health and spending trends.
A Wave of Economic Data Resumes
With the recent US government shutdown concluded, a steady stream of delayed economic reports is finally set to resume. This data is critical for assessing the true trajectory of the American economy after a period of uncertainty.
Among the most anticipated releases is the much-delayed US employment report for September, which will be published on Thursday. Other key indicators include October existing home sales and the preliminary S&P US services and manufacturing PMIs for November.
Key Economic Releases This Week
Monday, November 17: Empire State manufacturing survey for November.
Tuesday, November 18: Industrial production for October, home builder confidence index for November.
Wednesday, November 19: A busy day featuring the Philadelphia Fed manufacturing survey, housing starts, building permits, and the highly anticipated minutes from the Federal Reserve’s October FOMC meeting.
Thursday, November 20: The delayed September jobs report, initial jobless claims, and existing home sales.
Friday, November 21: S&P flash PMIs for services and manufacturing, and the final consumer sentiment reading for November.
Market Recap and Looking Ahead
Last week, the US stock market demonstrated resilience, rebounding on Friday after a shaky start. The recovery was led by a dramatic turnaround in Artificial Intelligence (AI) stocks. Nvidia itself staged an impressive recovery, erasing a steep early decline and pulling the broader market higher with it.
For the week, the S&P 500 edged up 0.1%, while the Nasdaq Composite fell 0.5%. In the bond market, the yield on the 10-year Treasury note rose to 4.14%.
This upcoming week, with its potent mix of corporate results and economic insights, is poised to set the tone for market sentiment as the year begins to wind down.
