Things could quiet down just a little on the stock market in the coming week, giving investors plenty of space in which to focus on Nvidia‘s (NVDA) earnings report. But the holiday shopping season is just around the corner, and Walmart (WMT) and Target (TGT) also report, setting into motion the late-earnings season frenzy of retail reports. It is likely that news from Washington will be ongoing, as President-elect Donald Trump continues to assemble the players for his administration. Investors will get a closer look at China’s EV war, and bitcoin is well worth watching, to see whether it edges closer to the $100,000 mark.
Stock To Watch: On The Lookout For Handles
The stock market pulled back in the latest week, so investors should be cautious about new buys, but still on the hunt for setups. Australia-based Atlassian (TEAM) is nearing a buy point from a 48%-deep cup base, but you’d like to see a handle form after such a sizable advance. HubSpot (HUBS) peeked above a buy point, and could be set to forge a high handle on its own cup base. Nuclear play Vistra (VST) is near highs in a short consolidation that followed its September breakout. Deckers (DECK) is pausing in a buy zone, and just below its highs from May. Burlington Stores (BURL) is just below a buy point with its own earnings looming, and with key rivals due in the coming week.
↑
X
Wall Street Stays Bullish On Nvidia Ahead Of Earnings. Can the AI Titan Outdo Itself Again?
Economic Calendar: Housing In Focus As Rates Rise
After a landslide start to November, investors look toward a light week of economic news. The focus will be on housing, though the numbers will be largely dated, given the six-week climb in mortgage rates — back to 7% for the first time since early July. The NAHB Housing Market Index, out Monday, gauges builder sentiment about the outlook and current homebuyer traffic. Housing starts and building permits for October are out Tuesday. Existing home sales will be reported on Thursday S&P Global’s preliminary indexes for the manufacturing and services sector, out Friday, provide an early indicator of the pace of economic growth in November.
Semiconductors: All Eyes On Nvidia’s Blackwell
AI chipmaker and market juggernaut Nvidia will report its fiscal third-quarter results late Wednesday, but Wall Street is more interested in its guidance for Q4. That’s because the fourth quarter will be the first to include sales of the company’s next-generation AI processor, called Blackwell. Nvidia Chief Executive Jensen Huang last month called Blackwell demand “insane.” For Q3, analysts are modeling earnings of 75 cents a share, up 88% year over year, on sales of $33.06 billion, up 82%. For the fiscal fourth-quarter, Wall Street currently expects Nvidia to earn 82 cents a share, up 58%, on sales of $36.94 billion, up 67%. Nvidia shares are in a buy zone.
Retail Earnings: A Big Box Name On A Roll
Walmart and Target kick the retail reporting season into high gear Monday and Tuesday. Analysts expect a second quarter of decelerating growth from Walmart, but the stock has roared 60% this year this as it benefits from its hefty exposure to staples and groceries. Target has lagged, with an 8% advance.
Trump Trade Fades, A $100,000 Bitcoin?
The stock market rally saw solid weekly losses on the major indexes, with small caps suffering more significant losses after the huge Trump election gains in the prior week. There were plenty of big earnings winners and losers. Treasury yields rose solidly, to five-month highs, amid stalled inflation data and Fed chief Jerome Powell signaling caution on future rate cuts.
Bitcoin prices cooled to near $90,000 early Saturday, after rallying to record highs above $93,000 on Wednesday. Bernstein analysts in a Monday note reported by The Block urged investors to add crypto industry exposure “as soon as possible.” They added that they remain “confident” in its $200,000 bitcoin price target by the end of 2025. Other cryptocurrency analysts have pegged $100,000 as the next big bitcoin price target, perhaps by year-end.
Discount Retailers: Burlington faces high hurdle
Much of the week’s retail attention will go to reports from Walmart and Target. But the late-season stream of retail reports also includes Ross Stores (ROST), TJX (TJX), BJ’s Wholesale (BJ) and others. Earnings growth is seen slowing across the group after a couple of strong years. TJX and BJ’s are both just below buy points in bases. So if they do surprise to the upside, it could pack a punch. TJX is up 28% so far this year. BJ’s has a 98% gain.
Automakers: A Checkup On China’s EV war
Chinese EV startup Xpeng Motors (XPEV) reports early Tuesday. Nio (NIO) early Wednesday. Analysts expect Xpeng to sharply narrow losses on an 18% revenue gain. That would be the weakest topline growth in four quarters. For Nio, analysts see narrower losses on a 1% sales dip, partly due to tough comparisons. Amid an ongoing price war, both startups have launched cheap new EVs that are potential growth drivers. China’s startup challengers to BYD (BYDDF), Tesla (TSLA) and Li Auto (LI) are also entering hybrid gas-electric vehicles as consumer tastes shift. EVs and plug-in hybrids made up more than half of overall vehicle sales in October, the fourth consecutive month that ‘new energy vehicles’ outsold gasoline cars in that country.
Conferences: Inspecting Financial Stability
The Cleveland Federal Reserve’s 12th annual Financial Stability Conference will run Thursday and Friday, and explore potential risks from advancements in AI and interconnected financial systems. In San Francisco, the QCon International Software Development Conference runs all week and focuses on tech innovation and software engineering. The conference often provides a gauge on trends affecting technology stocks as well as the broader digital economy.
Stock Market Earnings Briefs
Trip.com (TCOM), China’s largest online travel agency, reports earnings Monday. Analysts expect earnings to dip slightly to an adjusted 96 cents per share while sales rise 12% to $2.16 billion. TCOM stock was hovering near the buy zone of a cup-with-handle base as of Friday. Shares are ahead 65% this year.
BellRing Brands (BRBR) has rallied in 14 of 15 recent weeks and sits on a year-to-date gain of 31% heading into its fiscal Q4 earnings report Tuesday morning. Analysts expect the health-protein supplements maker to report a mild slowdown in earnings and revenue. Meeting estimates would make a 45% EPS gain for this year. Analysts see a 10% gain in the year ahead.
Palo Alto Networks (PANW) reports fiscal Q1 earnings after the market close on Wednesday. Analysts estimate adjusted EPS of $1.48, up 7%, with revenue growing 13% to $2.121. Two other financial metrics for the cybersecurity firm are annual recurring revenue from cloud computing and remaining performance obligations. RPO is the total value of contracted revenue that a company has not yet recognized. Analysts project fiscal Q1 ARR of $4.365 billion and RPO of $12.46 billion. Palo Alto shares are up 32% this year and in a buy range from a nine-month base.
Snowflake (SNOW) reports third- quarter earnings on Wednesday. Shares tumbled in August on weak guidance. For the October quarter, analysts project 15 cents profit per share on an adjusted basis, down 39% from a year earlier. Revenue is expected to grow 22% to $899 million. Worries over competition from privately held Databricks amid a slow ramp of artificial intelligence products have pressured Snowflake stock.
Intuit (INTU) will post its fiscal first-quarter results late Thursday. Analysts expect the tax-prep and financial software maker’s earnings to slip 4% on a 5% sales gain. Shares are in a buy range.
YOU MAY ALSO LIKE:
This Software Works On Mars; See You Up There, Elon | Stocks To Watch
Is ExxonMobil Stock A Buy After Trump Bump? | Stocks To Watch
This Bullish Chart Pattern Led To Nvidia’s 43% Surge | Stocks To Watch
Costco Stock Breaks Out Past Buy Point, Reaches All-Time High | Stocks To Watch
Looking For Market Insights? Check Out Our Live Daily Segment | Stocks To Watch
