What to Expect in Markets this Week By: Stock Market Charlie

Key Earnings Reports to Watch: Nvidia, Walmart, Target, and Home Depot

NVIDIA headquarters building with its prominent logo displayed against a clear blue sky, symbolizing the company's leadership in graphics processing technology.

Get ready for an exciting week as earnings from artificial intelligence powerhouse Nvidia and retail titans Walmart, Target, and Home Depot take center stage! Investors are buzzing with anticipation, especially with the government reopening after a record-breaking 43-day work stoppage, the longest in U.S. history.

The end of the shutdown is expected to bring back the flow of crucial government economic reports, which were paused due to the furlough of essential workers. These reports are vital for investors and officials, providing key insights into the economy's trajectory.

While it remains uncertain if government agencies will immediately resume their regular data-release schedule this week, only a handful of reports might still feel the shutdown's impact.

Stay tuned to the end for our calendar of must-see events—and a special surprise!

Nvidia and Retail Giants Gear Up for Earnings

Investor excitement is palpable as all eyes turn to Nvidia this week! The world's most valuable company is set to unveil its quarterly earnings on Wednesday. The AI trade has been stirring market waves amid concerns about corporate valuations in the sector. Nvidia's last earnings report just surpassed expectations, reassuring investors about the robust demand for AI technology. 

This week also features major retailers, starting with Walmart on Thursday—fresh off announcing John Furner as the new CEO starting Feb. 1, taking over from Doug McMillon. The world's largest retailer recently saw its share price reach an all-time high in October.

Other retail giants on deck include Target, which revealed a leadership shift during its last earnings announcement. Home Depot will report on Tuesday, coinciding with the hardware giant's upgraded outlook due to increased home improvement demand. Lowe’s Cos. will also release its quarterly earnings on Wednesday. Discount retailers TJX Cos., the parent of TJ Maxx, and Ross Stores are also in the spotlight this week.

Spotlight on Housing Data and Consumer Sentiment

Even with some uncertainty around the resumption of government economic data, investors have plenty of significant reports to look forward to.

The housing market takes center stage with several key reports. Existing-home sales data for October is set for Wednesday, amid a housing market freeze that has kept sales near historic lows for over two years. Housing starts, a measure of new home construction, is also on the agenda, though it's uncertain if shutdown-related delays will persist. 

Get ready for an exciting reveal! The October meeting minutes of the Federal Open Markets Committee are set to unveil valuable insights into the dynamic discussions on interest rate settings, where opinions among officials are sparking debate! Investors are eagerly anticipating the final November report on consumer sentiment, especially since earlier this month it indicated that the government shutdown was starting to make some consumers more anxious about the economic outlook. 

This Week’s Calendar

Monday, Nov. 17

• Empire State Manufacturing Survey (October)

• Federal Reserve Officials Speaking: New York Fed President John Williams

• Key Earnings: XPeng (XPEV), Aramark (ARMK)

Tuesday, Nov. 18

• Homebuilder Confidence Index (November)

• More Data to Watch: Industrial Production/Capacity Utilization (October)

• Data Release Potentially Impacted by Shutdown: Import Price Index (October)

• Key Earnings: Home Depot (HD), Medtronic (MDT), Baidu (BIDU), PDD Holdings (PDD), Klarna Group (KLAR)

Wednesday, Nov. 19

• Existing Home Sales (October)

• Data Release Potentially Impacted by Shutdown: Housing Starts (October)

• Minutes of October FOMC Meeting

• Fed Officials Speaking: New York Fed President John Williams

• Key Earnings: Nvidia (NVDA), TJX Companies (TJX), Palo Alto Networks (PANW), Lowe’s Companies (LOW), Target (TGT), Viking Holdings (VIK), Williams-Sonoma (WSM)

Thursday, Nov. 20

• Philadelphia Fed Manufacturing Survey (November)

• More Data to Watch: U.S. Leading Economic Indicators (October)

• Data Release Potentially Impacted by Shutdown: Initial Jobless Claims (Week Ending Nov. 15)

• Fed Officials Speaking: Chicago Fed President Austan Goolsbee

• Key Earnings: Walmart (WMT), Intuit (INTU), Ross Stores (ROST), Gap (GAP)

Friday, Nov. 21

• Consumer Sentiment - Final (November)

• More Data to Watch: S&P Flash Purchasing Managers Index (November)

• Key Earnings: BJ’s Wholesale (BJ)

• BJ’s Wholesale Club. “BJ’s Wholesale Club Announces Third Quarter Fiscal 2025 Earnings Conference Call Date (Press Release) — Investors.”

Best Regards,

Stock Market Charlie