The spotlight on Wall Street in the week ahead will be primarily on the earnings results from the artificial intelligence chipmaker, Nvidia Inc., and major American retailers such as Walmart and Target.

The Nvidia figures, due on Wednesday, will be closely scrutinised amidst persistent concerns over stretched valuations within the technology sector.

Furthermore, the week promises a significant respite for investors as the steady flow of economic data resumes, following the conclusion of the US government shutdown last week.

Amongst the highly anticipated economic indicators scheduled for release are the much-delayed employment figures for September, October existing home sales, and the preliminary S&P US services and manufacturing PMIs for November. These reports are crucial for gauging the current trajectory of the American economy after the period of data uncertainty.

Economic Calendar

On November 17 (Monday), a report on Empire State manufacturing survey for November will be released.

On November 18 (Tuesday), separate reports on industrial production for October, home builder confidence index for November, and business inventories for August will be released.

On November 19 (Wednesday), separate reports on Philadelphia Fed manufacturing survey for November, housing starts for October, building permits for October, US trade deficit for August, and minutes of Federal Reserve’s October FOMC meeting will be released.

On November 20 (Thursday), separate reports on US employment report for September, initial jobless claims for the week ended November 15, existing home sales for October, and US leading economic indicators for October will be released.

On November 21 (Friday), separate reports on S&P flash US services PMI for November, S&P flash US manufacturing PMI for November, and consumer sentiment (final) for November will be released.

Earnings

Following companies are due to report third quarter results in the week ahead — XPeng, Brady, Magic, LifeMD, Home Depot, Medtronic, Baidu, Futu, Amer Sports, Nvidia, Palo Alto Networks, Lowe’s, Target, Walmart, Intuit, Jacobs Solutions, MINISO, and Inventiva.

Markets Last Week

The US stock market rebounded on Friday after an initial lull as the focus shifted to the Artificial Intelligence (AI) stocks.

Nvidia started the day with a steep decline, only to completely erase the loss, pulling the wider market along in its wake. Simultaneously, the price of Bitcoin and gold fell as Treasury yields saw a rise.

The S&P 500 fell 3.38 points, or 0.1%, to 6,734.11. The Dow Jones Industrial Average fell 309.74 points, or 0.7%, to 47,147.48. The Nasdaq Composite rose 30.23 points, or 0.1%, to 22,900.59.

For the week, the S&P 500 is up 5.31 points, or 0.1%. The Dow is up 160.38 points, or 0.3%. The Nasdaq is down 103.95 points, or 0.5%.

In the bond market, the yield on the 10-year Treasury rose to 4.14% from 4.11% late on Thursday.