Get ready for a four-day trading week—if you trade bonds. With several key economic reports expected to be delayed by the government shutdown, investors will this week focus largely on corporate earnings reports. And some will get a short break: Bond markets, banks and government offices will close Tuesday for the Veterans Day holiday, though stock markets will remain open. Earnings from Walt Disney, CoreWeave, Sony, Cisco, and Applied Materials highlight this week’s corporate calendar. The small business optimism survey for October comes as market watchers are paying attention to how economic pressures are impacting small firms. The monthly federal budget report from the Treasury Department is expected to show how much revenue is coming from tariffs.

Disney, CoreWeave Earnings Among Reports to Watch
Earnings from artificial intelligence data center firm CoreWeave on Monday will likely keep investors’ focus on the technology that has helped drive markets higher over the past few years. After going public earlier this year, CoreWeave shares have more than doubled. Deals with chipmaker Nvidia and social media giant Meta are driving optimism in the firm’s business. Nuclear power provider Oklo’s report on Tuesday is expected to show growth tied to the electricity needs for AI data centers. Network infrastructure provider Cisco’s report on Wednesday comes after it nearly doubled its AI sales target in the prior quarter. On Thursday, Applied Materials is due to report as the chipmaking equipment supplier faces restrictions on its sales to China. Walt Disney’s report on Thursday follows the company’s recent launch of its ESPN sports app and plans to purchase the NFL network.  Other noteworthy earnings this week include stablecoin provider Circle Internet Group, FanDuel-parent Flutter Entertainment, satellite launch firm Rocket Lab, and sneaker maker On Holdings.

But there’s more on tap than earnings, and that includes Tuesday, when chipmaker Advanced Micro Devices is set to hold an analyst day at which CEO Lisa Su is expected to offer more details on the company’s artificial intelligence roadmap. Barrick Mining, Occidental Petroleum, and Applied Materials are also due to post results in the coming days.

What analysts are saying about U.S. stocks

Evercore ISI: “Nearly $500B in capex spend expected by U.S. hyperscalers over the next 12 months has driven an earnings boom in the Mag 7, where EPS growth has consistently outpaced the rest of the index since 2023. Their sustained EPS outperformance vs S&P 493 continues to anchor S&P 500 fundamentals. Index gains have been driven more by earnings than multiple expansion. While top 10 stocks are 40% of the Index, their valuations are not stretched, both a backstop and path to S&P 500 7,750 by year-end 2026.

Evercore ISI Strategy sees the Bull Market intact – recent volatility is a feature of structural Bull markets, the Dotcom Bull regularly saw 10% or deeper “air pockets” – and remains Strategically long the AI theme.”

Morgan Stanley: “We have clearer signs that the seasonal weakness in earnings revisions breadth is over, and the next leg higher is underway. While overhangs from Fed guidance and the shutdown have weighed on recent price action, these are temporary headwinds on the way to a solid 2026 driven by earnings growth.”

JPMorgan: “If U.S. tariffs are overruled by the Supreme Court, risk assets should take it as a positive, especially the stocks that were more under pressure from trade headwinds. That could in particular help international areas that lagged since Liberation Day, also Eurozone exporters, which are 15%+ behind domestic names ytd, as well as EM plays, in addition to helping some broadening within the U.S. market toward certain laggards.”

Wolfe Research: “With the U.S. government shutdown on a path to end by mid-week and earnings season almost over, market focus will shift to year-end trading dynamics and the resumption of government data. On the latter point, we expect that as data is released over the coming weeks, it will paint a very mixed rear-view picture of the U.S. economy. This suggests to us that investors will continue to chase thematic winners, particularly the AI trade, for which we remain bullish from now to year-end.”