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What To Expect in the Markets This Week

Coming up: Earnings from Nvidia, Walmart, Target, housing market data, Fed speak

What To Expect in the Markets This Week



Key Takeaways



Investors this week will be watching the quarterly earnings report from Nvidia ( NVDA ), now the world’s most valuable company. Walmart ( WMT ), Lowe’s ( LOW ) and Target ( TGT ) are among the other companies scheduled to issue quarterly financial updates this week.

Remarks from Chicago Fed President Austan Goolsbee and Cleveland Fed President Beth Hammack could provide insight into whether the Federal Reserve could change its rate cut schedule.

Economists will be watching data from the housing market this week, including housing starts, existing home sales, and home builder confidence. Consumer sentiment for November is set for a Friday release, along with Purchasing Managers' Index (PMI) surveys in the manufacturing and services sector.

Monday, Nov. 18

Tuesday, Nov. 19

Wednesday, Nov. 20

Thursday, Nov. 21

Friday, Nov. 22

Investors Watch for Wednesday Nvidia Earnings, Reports from Walmart, Target

Nvidia’s earnings report on Wednesday comes as the chipmaker recently became the world’s most valuable company on increased demand for its artificial intelligence (AI) capable products. Analysts have been high on the chipmaker's stock, with Mizuho recently raising its price target for the company to a high point of $165, slightly above the analyst consensus near $160, according to Visible Alpha. Nvidia’s report is also its first since joining the Dow Jones Industrial Average .

Walmart’s report on Tuesday comes after the retail giant lifted its full-year outlook on the back of better-than-expected quarterly earnings. While the big box chain reported a 43% drop in net income in the prior quarter, its sales were higher at both Walmart stores and Sam’s Club outlets.

Lowe’s Tuesday report comes amid a sales slump on big-ticket items that led the home improvement retailer to lower its full-year outlook . Target will report on Wednesday after it was able to disclose an increase in quarterly revenue and raised its projections on yearly earnings. Discount retailers TJX Companies, the parent of TJ Maxx and Ross Stores will also report this week. Taken together, retail earnings could offer a detailed picture of consumer health heading into the holiday season .

Tax preparation software maker Intuit will issue its financials on Thursday after it posted a surprise loss in its prior earnings report. Tractor maker John Deere’s Thursday report will give investors a look at the agricultural and construction sectors. Chinese internet search engine Baidu will also report on Thursday.

Another noteworthy report will come from Chinese electric vehicle maker Xpeng , which competes with Tesla ( TSLA ) for sales in China.

Housing Market Data, Fed Speak Highlight Economic Calendar

Housing market data on tap this week will spotlight a sector of the economy that continues to struggle with high mortgage rates . The homebuilder sentiment survey released on Monday will show if contractors are preparing for more building, while housing starts and building permits data on Tuesday will provide insight into the volume of construction projects. On Thursday, October data on existing home sales will show whether transactions are moving up from a 14-year low.

Comments from Chicago Fed President Austan Goolsbee on Monday and Cleveland Fed President Beth Hammack will provide some insight into how the Federal Reserve views recent reports that showed inflation ticking upward in October .

The Friday consumer sentiment report will provide a first look at how the public is reacting to the election of Republican Donald Trump as president, with the preliminary survey in early November concluding before the vote.