What to Expect in the Week Ahead (Nvidia, Walmart, Target and Alibaba)

Moomoo Breakfast US wrote a column · Nov 13, 2022 19:36

What to Expect in the Week Ahead (Nvidia, Walmart, Target and Alibaba)

Third-quarter earnings season for retailers arrives this week, in addition to results from several major tech firms. There will also be a bevy of economic indicators released.

$Tyson Foods(TSN.US)$ reports on Monday, followed by $Walmart(WMT.US)$, $Home Depot(HD.US)$, and $Advance Auto Parts(AAP.US)$ on Tuesday. $Cisco(CSCO.US)$, $Lowe's Companies(LOW.US)$, $NVIDIA(NVDA.US)$, $Target(TGT.US)$, and $TJX Companies(TJX.US)$ announce results on Wednesday. $Alibaba(BABA.US)$ and $Applied Materials(AMAT.US)$ report on Thursday.

Tuesday will bring the October Producer Price Index from the Bureau of Labor Statistics. The consensus estimate is for a 0.4% rise last month, for an annual gain of 8.3% for the headline index. The core PPI, which excludes food and energy components, is expected to have risen 0.4% in October and 7.2% from a year earlier.

Other economic data out next week will include the Census Bureau's retail sales report for October and the National Association of Home Builders' Housing Market Index for November. On Thursday, the Census Bureau reports housing starts for October, then the National Association of Realtors reports on existing-home sales for October on Friday.

Finally, the Conference Board releases its Leading Economic Index for October on Friday. That's forecast to show a second-straight 0.4% month-over-month decline.

Monday 11/14

$Nu Holdings(NU.US)$ and $Tyson Foods(TSN.US)$ release earnings.

Tuesday 11/15

Retail behemoth $Walmart(WMT.US)$ reports third-quarter fiscal-2023 earnings. The company's shares are down just 0.28% this year, as more cost-conscious consumers have traded down to Walmart's offerings. $Advance Auto Parts(AAP.US)$ and $Home Depot(HD.US)$ report quarterly results.

The Bureau of Labor Statistics releases the producer price index for October.

Wednesday 11/16

$Cisco(CSCO.US)$, $Lowe's Companies(LOW.US)$, $NVIDIA(NVDA.US)$, $Target(TGT.US)$, and $TJX Companies(TJX.US)$ announce earnings.

The Census Bureau reports retail sales data for October. Economists forecast a 0.5% month-over-month gain, while sales excluding autos are seen rising 0.6%. Both estimates are half a percentage point above September's figures.

The National Association of Home Builders releases its Housing Market Index for November. The consensus call is for a 36 reading, two points lower than in October. The index has fallen more than 40 points this year, as surging mortgage rates have soured home builders' outlook on the sector.

Thursday 11/17

$Alibaba(BABA.US)$, $Applied Materials(AMAT.US)$, $Keysight Technologies(KEYS.US)$, $Palo Alto Networks(PANW.US)$, and $Ross Stores(ROST.US)$ hold conference calls to discuss quarterly results.

The Census Bureau reports new residential construction statistics for October. Starts of privately owned housing are expected to come in at a seasonally adjusted annual rate of 1.41 million. Starts have fallen nearly 20% this year, as the housing market continues to slow and canceled deals grow.

Friday 11/18

The Conference Board releases its Leading Economic Index for October. Economists expect a 0.4% month-over-month decline, matching September's. The index has fallen for most of this year, and the Conference Board now sees 2022 gross-domestic-product growth at a sluggish 1.5%.

The National Association of Realtors reports on existing-home sales for October. The consensus estimate is for a seasonally adjusted annual rate of 4.32 million.

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