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The stock market has recovered from the decline experienced earlier this month and has maintained a bullish trend for some time. This upward momentum is mainly due to favorable economic data, which has strengthened investors’ confidence in potential interest rate cuts and favorable macroeconomic policies.
Against this backdrop, investors are keeping a close eye on earnings reports this week, including Nvidia (NVDA) All eyes are on the tech giant as it is due to release financial statements along with other major players in the tech industry, which could have a further impact on market sentiment.
For more details on this week’s predictions, read on.
Important Earnings to Note
Tuesday
- Nordstrom (JWN): The luxury retailer is scheduled to report results after the market closes.
Wednesday
- NVIDIA (NVDA): The AI chip maker, a major player in the technology industry, is scheduled to report its results after the trading close.
- Salesforce (CRM): The cloud-based software giant is also scheduled to release its earnings report after the market closes.
- Crowdstrike (CRWD): The cybersecurity company, known for its cloud-based protection solutions, is scheduled to report earnings after the market closes on Wednesday.
- Additional companies reporting revenue: Home page (HPQ)chewy (CHWY)Bath & Body Works (BBWI)Foot Locker (Florida)Abercrombie & Fitch, Guess, Kohl’s and Victoria’s Secret.
Thursday
- Dollar General and Burlington: Both discount retailers are scheduled to release earnings reports before the market opens.
- Dell Technologies and Marvell Technology: These companies announce earnings after the market closes.
- Lululemon and Ulta Beauty: The companies are scheduled to report their results after the transaction closes.
Macroeconomic data to track
The S&P Case-Shiller Home Price Index, which monitors home prices in 20 major U.S. cities, will be released on Tuesday along with the latest consumer confidence report. Later in the week, on Thursday, initial data on jobless claims and a second estimate of second-quarter GDP will be released. This revised GDP estimate incorporates more comprehensive source data and provides a clearer picture of economic growth over the period.
What else is going on?
SpaceX is aiming to reach a new milestone with its upcoming Polaris Dawn mission, which is scheduled to launch between 3:30 and 7 a.m. Tuesday. Kennedy Space Center.
The commercial spaceflight program is designed to push the boundaries of private space travel and exploration. Polaris Dawn websiteThe mission aims to advance commercial spaceflight capabilities and further strengthen SpaceX’s role as a leader in the space industry.
Additionally, the annual Fintech South Conference is scheduled to take place Tuesday and Wednesday at the Woodruff Arts Center in Atlanta, Georgia. The conference tagline, “Fintech is Here!” highlights Atlanta’s role in the world of financial technology. For agenda details, see Additional Information. here.
