Nvidia (NVDA) reports Tuesday, its first earnings since Jensen Huang resigned as CEO. Anthropic (ANT) is targeting Thursday for its Nasdaq debut. Together, the two events will test the AI trade that has looked shaky in recent weeks. Home Depot (HD), Target (TGT), TJX (TJX), and Walmart (WMT) will gauge consumer health. Tuesday’s October retail sales report adds a broader view of spending. Fed Chair Kevin Warsh speaks Monday, and FOMC minutes arrive Wednesday afternoon.
Here are 5 things to watch this week in the Market.
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Nvidia Earnings and Post-Resignation Fallout
Nvidia (NVDA) reports Tuesday after the close, just days after Jensen Huang’s resignation. CFO Colette Kress is now interim CEO, and Harvey Jones is the board’s first-ever chair. The change followed a board investigation into reports Huang was targeted by a foreign intelligence effort. Investors will want reassurance that customer relationships and the product roadmap remain intact. Data center revenue and gross margins will still drive the initial reaction. Guidance will matter even more than usual given the uncertainty at the top. Analysts will also listen for any update on a permanent CEO search. A clean report could steady the stock and the broader AI trade. A guidance cut would likely deepen the selloff in chip stocks.
Anthropic IPO: A Live Test for AI Appetite
Anthropic is targeting Thursday for the start of trading on the Nasdaq under the ticker ANT. It is one of the most anticipated tech listings since SpaceX debuted in June. Anthropic’s filing showed rapid revenue growth alongside large reported losses, partly from accounting charges. Pricing and first-day trading will offer a real-time read on investor appetite for AI. A strong debut could lift sentiment across AI software and infrastructure names. A weak open would reinforce concerns that the AI trade has run too far. Large allocations may also pull capital from other tech holdings, as seen with SpaceX. Expect elevated volatility in AI-linked stocks around Thursday’s open.
Retail Earnings and October Retail Sales
Tuesday’s October retail sales at 8:30am will show whether consumers kept spending ahead of the holidays. Home Depot (HD) also reports Tuesday, offering a read on housing-related spending. Target (TGT) and TJX (TJX) follow Wednesday. Walmart (WMT) reports Thursday and remains the bellwether for value-seeking shoppers. Investors will focus on traffic, average ticket, and holiday quarter guidance. Commentary on tariffs and pricing will also matter for margins. Off-price retailers like TJX have tended to benefit when shoppers trade down. Disney (DIS) reports Tuesday too, covering parks, streaming, and discretionary demand.
Warsh Speech and FOMC Minutes
Fed Chair Kevin Warsh speaks Monday at 12:00pm, setting the tone for the week. Markets will listen for his read on inflation and recent equity weakness. Wednesday’s FOMC minutes at 2:00pm will detail the debate behind the October decision. Investors want to know how many officials still lean toward tighter policy. Any discussion of financial stability risks from AI valuations would draw attention. Hawkish signals would keep yields elevated and pressure growth stocks. A more balanced tone could offer relief after a choppy stretch. Thursday’s jobless claims and Philadelphia Fed index add timely reads on labor and manufacturing.
China Tech, Cybersecurity, and Oil
Alibaba (BABA) and PDD Holdings (PDD) report Thursday, offering views on Chinese consumer demand. Their results follow September’s Trump-Xi summit, so trade commentary will be closely watched. Palo Alto Networks (PANW) reports Wednesday and tests enterprise security spending. Cybersecurity has held up as a relatively defensive corner of tech. Wednesday’s crude oil inventories at 10:30am will update supply and demand trends. Oil remains sensitive to Middle East headlines and Strait of Hormuz developments. Higher crude would add to inflation pressure and complicate the Fed’s path. Calmer energy markets would help ease yields heading into Thanksgiving week.
Best of luck this week and don’t forget to check out my daily options article.
On the date of publication, Gavin McMaster had a position in: NVDA , WMT . All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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