U.S. financial markets will be closed Monday for the Presidents Day holiday, but after markets reopen Tuesday, investors can look forward to a slew of earnings reports this week from Nvidia (NVDA), Walmart (WMT), Home Depot (HD), Palo Alto Networks (PANW), and more. Intel (INTC) will also launch its first annual conference for its growing foundry business.
The Federal Reserve will release minutes from the central bank’s policy meeting in January, providing more insight into officials’ stance on interest rates. Fed representatives will offer their latest evaluations of economic conditions at speaking engagements as well. The government is also expected to hold meetings on new student loan repayment proposals.
Nvidia, Walmart and More To Report Earnings
Will one of the biggest winners from growing artificial intelligence (AI) demand continue its streak? Market watchers could find out Wednesday, when analysts expect Nvidia to report another strong quarter. Nvidia’s stock has been on a tear in recent weeks, reaching record highs and overtaking Google parent Alphabet (GOOGL) as the third-largest U.S. company by market value. Investors will be watching for a number of other companies’ results as well, including what could be disappointing updates from retailers Walmart and Home Depot early in the week. When Walmart reports on Tuesday, analysts are projecting the retail giant to report a decline in earnings, while Home Depot is expected to show a drop in earnings on lower sales volumes in its report that day. Rivian Automotive’s (RIVN) earnings report Wednesday could provide insights into consumer demand for electric vehicles (EVs), while travel reservations site Booking Holding’s (BKNG) report on Thursday could offer indications of consumer travel spending trends in the holiday quarter.
Intel will also host its first annual Intel Foundry Services (IFS) conference on Wednesday, which could offer updates on its plans to capitalize on demand for AI chip manufacturing. On Friday, Warner Bros Discovery’s (WBD) update to investors could not only show whether its ad sales and streaming subscriber figures can rebound, it could also provide news about its joint venture with Fox (FOXA) and Disney’s (DIS) ESPN to launch a new sports streaming service.
Fed Meeting Minutes and Student Loan Meeting Ahead
The Wednesday release of January’s Federal Open Market Committee (FOMC) meeting minutes could provide more details about how members are viewing current economic conditions and when interest rate cuts could come. Comments from Philadelphia Fed President Patrick Harker and Minneapolis Fed President Neel Kashkari on Thursday could provide additional assessments of inflationary trends.
In other developments this week, the Department of Education will hold meetings on Thursday and Friday to review proposals for student loan repayment plans that could replace the plan that the U.S. Supreme Court struck down last year.