Nvidia earnings, GDP data, and a big launch: What to watch in the markets this week

Robust economic data is driving markets and strengthening investor confidence that interest rate cuts are coming soon

By Vinamrata Chaturvedi2 min readUpdated August 25, 2024

The stock market has maintained a bullish trend for some time, rebounding from earlier losses experienced at the beginning of the month. This upward momentum is largely driven by strong economic data, which has bolstered investor confidence in potential interest rate cuts and favorable macroeconomic policies.

Against this backdrop, investors are paying close attention to this week’s earnings reports, with Nvidia $NVDA (NVDA) in the spotlight. The tech giant is set to release its financial results, along with other key players in the tech sector, which could further influence market sentiment.

For more insights into what’s expected this week, read below:

Important earnings to watch

Tuesday

Nordstrom $JWN (JWN): The upscale retailer is scheduled to report its earnings after the market closes.

Wednesday

Nvidia (NVDA): The AI chipmaker, a key player in the tech industry, will release its earnings after the closing bell.
Salesforce $CRM (CRM): The cloud-based software giant will also post its earnings report after the market closes.
CrowdStrike $CRWD (CRWD): The cybersecurity firm, known for its cloud-based protection solutions, will announce its earnings on Wednesday after the market closes.
Additional companies reporting earnings: HP $HPQ (HPQ), Chewy (CHWY), Bath & Body Works $BBWI (BBWI), Foot Locker $FL (FL), Abercrombie & Fitch, Guess, Kohl’s, and Victoria’s Secret.

Thursday

Dollar General $DG and Burlington: Both discount retailers will release their earnings reports before the market opens.
Dell $DELL Technologies and Marvell Technology: These companies will post their earnings after the market closes.
Lululemon $LULU and Ulta $ULTA Beauty: These companies are set to report their earnings after the closing bell.

Macroeconomic data to keep track of

The S&P Case-Shiller Home Price Index, which monitors home prices across 20 major U.S. cities, is coming Tuesday, alongside the latest Consumer Confidence report. Later in the week, Thursday will bring the release of initial jobless claims data, as well as the second estimate of GDP for the second quarter. This revised GDP estimate incorporates more comprehensive source data, providing a clearer picture of economic growth during the period.

What else is happening?

SpaceX is attempting to achieve another milestone with the upcoming Polaris Dawn mission. The launch window for Polaris Dawn is scheduled between 3:30 a.m. and 7 a.m. on Tuesday, as stated by the Kennedy Space Center.

This commercial spaceflight program is designed to push the boundaries of private space travel and exploration, according to the Polaris Dawn website. This mission aims to advance commercial spaceflight capabilities, further solidifying SpaceX’s role as a leader in the space industry.

Moreover, the annual Fintech South conference is scheduled for Tuesday and Wednesday at the Woodruff Arts Center in Atlanta, Georgia. The conference tagline — “Fintech Lives Here!” — underscores Atlanta’s role in the world of financial technology. For more on the agenda, you can find additional information here.

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