Wall Street Breakfast: Focusing on The Week Ahead

As we approach a holiday-shortened week leading into Thanksgiving, Wall Street prepares for a substantial number of earnings reports from major companies. Investors and analysts are particularly anticipating the earnings report from Nvidia (NVDA), a major player in the AI sector that has seen a notable rally in its shares recently. This week, a lineup of diverse corporate giants such as Lowe's (LOW), Analog Devices (ADI), Autodesk (ADSK), Best Buy (BBY), Baidu (BIDU), Deere (DE), and DICK's Sporting Goods (DKS) are also scheduled to report their earnings, drawing the attention of the market.

The economic agenda will be packed with the release of global flash Purchasing Managers' Indexes (PMIs) for November, alongside durable goods order reports. These indexes are critical indicators of the economic direction and will be closely examined by those tracking economic health. There's also a keen interest in the minutes from the Federal Reserve's Federal Open Market Committee (FOMC) meeting and the details from the European Central Bank's latest meeting, which are both likely to influence U.S. interest rates.

Earnings Reports in the Spotlight

Highlighting specific dates, on Monday, November 20, Zoom Video (NASDAQ:ZM) and BellRing Brands (BRBR) are on deck for their earnings reveal. The subsequent day, Tuesday, November 21, will be particularly busy with Nvidia (NVDA), Lowe's (LOW), and a host of others like Medtronic (MDT) and Best Buy (BBY) announcing their results. On Wednesday, November 22, Deere (DE) caps off the earnings releases for the week.

Nvidia's Earnings Anticipation

The tech industry is buzzing with anticipation over Nvidia's third-quarter earnings, forecasted to reach $15.99 billion in revenue and an earnings per share (EPS) of $3.37. Key factors that will be scrutinized include the impact of China's export controls and details on Nvidia's data center supply chain and AI services revenue. Despite potential market fluctuations, Nvidia's stock has already seen a significant rise this year, with options trading hinting at a possible 8% price swing post-earnings announcement.

Upcoming IPOs and Conferences

In the coming week, we will also witness the debut of Docola (DOCO) on the trading floor, with the company's goal to offer a free patient care communication platform. Additionally, there will be a lifting of IPO lockup periods for certain shares of Foremost Lithium Resource & Technology (FMST) and Atmus Filtration Technologies (NYSE:ATMU). The Needham Consumer Tech E-Commerce Virtual Conference is also set for November 20, featuring contributions from various tech and e-commerce industry players.

Earnings, Economy, Markets, Stocks, Nvidia