As the economic calendar is quite light in the coming week, the main focus of market participants on Wall Street will be on the earnings reports of big names like the chip giants. nvidia corporationRetail giants Walmart Inc. and Target Corp.
Nvidia, the world’s most valuable company by market capitalization, will report its third-quarter results on November 20 that will be a measure of the market’s appetite for technology and artificial intelligence stocks.
Next week will see updates on the housing market, flash PMI data on services and manufacturing sectors.
Following Federal Reserve Chairman Jerome Powell’s comments last week on the future path of interest rates, speeches from several Fed speakers scheduled in the coming week will also attract some attention from market participants.
On Thursday, Powell suggested that the US central bank could remain cautious about future decisions on interest rates.
“The economy is not sending any signals that we need to rush to lower rates.”
economic calendar
A report on the Home Builder Confidence Index for November will be released on November 18 (Monday).
Housing starts data for October will be released on November 19 (Tuesday).
On November 21 (Thursday), the Philadelphia Fed will release separate reports on the manufacturing survey, existing home sales for October and key economic indices for October.
On November 22 (Friday), separate reports will be released on the S&P Flash US Services PMI and S&P Flash US Manufacturing PMI for November and Consumer Sentiment (Final) for November.
Income
The following companies are scheduled to report third-quarter earnings in the coming week – Trip.com Group, Symbiotic, AECOM, BellRing Brands, Brady Corp., Walmart, Lowe’s, Medtronic, Keysight Technologies, Viking Holdings, NVIDIA, TJX, Palo Alto Networks, Target, Snowflake, Intuit, Deere & Company, Ross Stores, Construction Partners, NetApp, BJ’s Wholesale Club Holdings, The Buckle, and Global Blue Group Holdings.
last week market
US stocks It closed with a decline on Friday.
The Dow Jones Industrial Average fell 305.87 points, or 0.70 percent, to 43,444.99, the S&P 500 fell 78.55 points, or 1.32 percent, to 5,870.62 and the Nasdaq Composite dropped 427.53 points, or 2.24 percent, to 18,680.12.
In the bond market, the 10-year Treasury yield was steady at 4.44 percent. The 2-year yield fell to 4.31 per cent from 4.36 per cent.
