What to Expect in the Markets This Week: Nvidia, Salesforce, Dell, CrowdStrike Earnings and More
As we head into a new week, investors are eagerly awaiting earnings reports from major tech firms such as Nvidia, Salesforce, Dell, and CrowdStrike. Additionally, financials from retailers Dollar General, Five Below, Abercrombie & Fitch, and Ulta Beauty will also be in focus. Alongside these earnings reports, there are several key economic releases to watch, including July inflation data and Q2 Gross Domestic Product (GDP).
Busy Week for Tech Earnings
Nvidia’s earnings report on Wednesday will be closely watched by market participants. The chipmaker has been performing exceptionally well, with its previous quarter’s revenue more than tripling and net income growing more than six-fold. This strong performance has led Goldman Sachs to classify Nvidia as the “most important stock” of the year. Salesforce, a leader in artificial intelligence (AI) products, will also report on Wednesday, providing insights into the demand for its AI offerings. Cybersecurity provider CrowdStrike will report for the first time since a software update caused a global computer network outage.
Investors will also be keeping an eye on computer sales and the impact of AI, with HP reporting on Wednesday and Dell releasing its earnings on Thursday.
Retail Reports and Warren Buffett’s Investments
Several retailers will be reporting their earnings this week, including Dollar General and Five Below. Dollar General has been experiencing increasing same-store sales, which will be of interest to investors. Ulta Beauty’s report is particularly noteworthy as recent filings revealed that Warren Buffett’s Berkshire Hathaway purchased shares in the makeup retailer.
Key Inflation Data and GDP Figures
On Friday, the release of the Personal Consumption Expenditures (PCE) index will provide insights into inflation trends. The PCE index is the Federal Reserve’s preferred measure of price changes, and a decline in the July reading could indicate that inflation is moving closer to the central bank’s target of 2%. Additionally, Thursday will see the release of the second-quarter GDP figures, which showed accelerating growth of 2.8% in the initial reading.
Other Economic Releases
Aside from earnings reports, there are several other economic releases to watch this week. On Monday, durable goods orders for July and the Dallas Fed Manufacturing Survey for August will be published. Tuesday will bring the S&P CoreLogic Case-Shiller home price index for June, the FHFA House Price Index for June, the Richmond Fed Manufacturing Index for August, and the Consumer Confidence Index for July. On Thursday, investors will get a look at initial jobless claims for the week ending August 24, pending home sales for July, advance wholesale inventories for July, advance international trade in goods for July, and advance retail inventories for July. Friday will see the release of the Chicago Business Barometer for August and the Consumer Sentiment Index for August.
Overall, it is set to be a busy week in the markets, with earnings reports from major tech firms, retail updates, and key economic releases. Investors will be closely watching these developments for insights into the state of the economy and potential market trends.
