Wall Street awaits Nvidia results, Anthropic listing this week
US stocks rose over 2 per cent last week, ending recent losing streaks. Focus this week includes Nvidia's earnings on Tuesday and Anthropic's expected Thursday listing. Federal Reserve minutes and retail data will also shape market sentiment.
All three major US stock indices rose more than 2 per cent last week, according to RTHK. The Dow Jones Industrial Average ended a two-week losing streak, while the S&P 500 and Nasdaq indices broke four-week declines.
Market focus this week centres on Nvidia, which will report earnings after Tuesday's market close. Interim Chief Executive Officer Kress plans to hold an all-staff meeting on Thursday. Nvidia fell nearly 13 per cent last week, extending its losing run to six weeks. Investors are looking for clarity on the company's strategic direction, earnings guidance and demand for artificial intelligence chips.
Anthropic is expected to list on Thursday. Other companies reporting earnings this week include retailers Walmart, Home Depot, Ross Stores and Target, as well as Disney.
On Wednesday, the Federal Reserve will release the minutes of its October meeting. Several Fed officials, including Chair Warsh, are scheduled to speak this week, and markets will assess the remarks for clues on the interest rate outlook.
US economic data due this week includes October retail sales, import and export prices, as well as housing starts, building permits and pending home sales for existing homes.