What to Expect in the Markets This Week (May 27–31)

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Samiat

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Nov 12, 2024
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️ What to Expect in the Markets This Week (May 27–31)

Key Highlights:

  • Nvidia headlines earnings this week, alongside Salesforce, Dell, Marvell Technologies, HP, Costco, AutoZone, Dick’s Sporting Goods, and PDD Holdings (Temu’s parent).
  • The April PCE inflation report (Friday) will be closely watched for clues on the Fed’s next moves.
  • Other key data: Q1 GDP update, U.S. trade balance, retail inventories, and consumer confidence/sentimentreports.
  • Fed officials including Christopher Waller and John Williams are scheduled to speak. The FOMC minutes from the May meeting will be released on Wednesday.
Investor Focus:

  • Nvidia (NVDA) reports Wednesday, following a sharp rally that pushed its valuation back to the $3 trillion mark. Its last quarter showed 78% YoY revenue growth.
  • Salesforce (CRM) and HP (HPQ) also report Wednesday. Salesforce’s outlook disappointed last quarter, but analysts see long-term AI-driven growth potential.
  • Dell Technologies (DELL) reports Thursday. AI infrastructure demand has been boosting server and networking sales.
  • Costco (COST), also reporting Thursday, saw a 7% sales jump in April, partly driven by pre-tariff buying.
  • AutoZone (AZO) reports Tuesday. Analysts suggest higher car prices could lead to more DIY repairs.
  • Dick’s Sporting Goods (DKS) reports Wednesday, following its recent acquisition of Foot Locker.
  • PDD Holdings (PDD) and Li Auto will provide insight into Chinese firms amid U.S. tariff concerns.
Reminder: Markets are closed Monday (May 27) for Memorial Day.
 
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