Nvidia earnings and Fed minutes: what investors need to know this week
Now that the longest U.S. government shutdown in history is over, the big question is what the cost of this downtime is, writes Yahoo Finance. Therefore, investors on Wall Street will be waiting for announcements on what macro statistics will be released and in what time frame.
Two important reports for the market - on inflation and the labor market for October - will "probably never" be published, said White House press secretary Caroline Leavitt. Among this week's macroeconomic publications, Barron's highlights the minutes of the US Federal Reserve's October interest rate meeting, as well as data on the real estate market and business activity in the world's largest economy.
In the corporate sector, the main event will be the quarterly report of Nvidia - the most expensive company in the world. Wall Street will also follow the disclosure of financial results of major retailers: Walmart, Home Depot and Target - their reports are perceived as indicators of the state of consumer demand in the U.S., notes Yahoo Finance.
Trip.com and XPeng will report quarterly results on Monday, November 17.
Amer Sports, Baidu, Home Depot, Klarna and PDD Holdings will report financial results on Tuesday, November 18.
On Wednesday, November 19, the US Federal Open Market Committee (FOMC) will release the minutes of its interest rate meeting held at the end of October. At that meeting, the FOMC lowered the rate by a quarter of a percentage point to a range of 3.75-4%, but the votes were divided: Fed Governor Stephen Miran voted in favor of lowering it by half a point, while Kansas City Fed President Jeff Schmid called for leaving it unchanged. The split in the Fed has increased uncertainty about the future trajectory of its monetary policy. Traders estimate the probability of a rate cut at the regulator's December meeting as almost 50/50, Barron's writes.
The U.S. Census Bureau will release housing construction statistics for October. Consensus forecast: new housing starts at 1.33 million, up slightly from September.
Lowe's, Nvidia, Palo Alto Networks, Target and Williams-Sonoma will report last quarter's earnings.
Thursday, November 20, the People's Bank of China (PBOC) will announce its decision on the benchmark lending rate. With China likely to meet its annual GDP growth target of 5% and local banks' net interest margins near historic lows, the rate should remain unchanged in November, The Wall Street Journal cites Citibank's forecast.
Gap, Intuit, NetEase and Walmart will disclose financial results.
On Friday, November 21, S&P Global will release the U.S. manufacturing and service sector business activity indices (PMI) for November. Wall Street's expectations: 52 points and 54.5 points respectively - slightly lower than in October.
BJ's Wholesale Club will report quarterly results.
This article was AI-translated and verified by a human editor
