Nvidia, SpaceX IPO prospectus and Fed minutes: what investors need to know this week
Key events for Wall Street this week will be Nvidia's May 20 earnings report disclosure and CEO Jensen Huang's account of his recent trip to China / Photo: NoorStockHut/Shutterstock.com
Wall Street's economic calendar in the coming days will be lighter than in recent weeks, but investors will receive several important signals: minutes of the April meeting of the U.S. Federal Reserve, data on business activity, as well as on inflation in the eurozone. The main macroeconomic question is whether there are signs within the Fed that it is ready to discuss interest rate hikes again due to expensive energy and uncertainty in the Middle East.
Key in the corporate sector will be the quarterly report of the world's most expensive company, Nvidia, and investors will be waiting for CEO Jensen Huang's comments after his trip to China with United States President Donald Trump. Another major event of the week could be the public filing of Elon Musk's SpaceX for its long-awaited IPO. Investors will also be watching the earnings disclosures of major US retailers Walmart, Target, Lowe's and Home Depot.
On Monday, May 18, the U.S. National Association of Home Builders will release its confidence index for Ma: the consensus forecast calls for 34 points, the same number as in Ma. An indicator value below 50 points means that builders are pessimistic about the short-term prospects of the individual housing market, Barron's points out.
Baidu, Trip.com and Ryanair will present their financial results.
On Tuesday, Ma 19, Japan will release GDP data for January-March: economists surveyed by Quick on average forecast growth of 0.4% quarter-on-quarter, or 1.6% year-on-year. Growth is expected to be supported by a recovery in exports to the US and robust domestic demand, according to The Wall Street Journal.
Home Depot will release its financial report for last quarter.
On Wednesday, Ma. 20, the Fed will publish the minutes of its April meeting, at which the rate was kept in the range of 3.50-3.75%. This meeting was the last one for Jerome Powell as Central Bank Chairman, whose successor Kevin Warsh was confirmed by the Senate last week. Investors will be looking for an answer in the minutes to the question of whether the regulator considers a rate cut less and less likely due to increasing inflationary pressures, WSJ believes.
SpaceX, according to Bloomberg, on that day will unveil the prospectus for its IPO, which could become the largest in world history. Elon Musk's company intends to launch a road show on June 4, decide on a share offering price on June 11 and go public on June 12, Reuters reported late last week.
Nvidia, Intuit, Lowe's, Target, and Warren Buffett's new favorite, Tokio Marine, will disclose their quarterly earnings.
On Thursday, Ma. 21, the U.S. Census Bureau will release housing construction data for April: the consensus forecast is for an annualized rate of 1.4 million starts, about 100,000 fewer than in Ma. S&P Global will release preliminary data on business activity (PMI) in the world's largest economy for Ma.
In Europe, the day will see the release of preliminary eurozone PMIs, which WSJ calls the week's top statistic for the region.
Walmart, Deckers Outdoor, Deere, NetEase, Ross Stores, Ralph Lauren, Take-Two Interactive Software and Zoom will report.
On Friday, Ma 22, Japan will release inflation data. This is important because the timing of the next rate hike by the central bank is not yet clear, states WSJ.
The week will close with a quarterly report from major US government contractor Booz Allen Hamilton.
This article was AI-translated and verified by a human editor
