Nvidia headlines A big week for tech

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The US economic calendar includes updates on durable goods, consumer confidence, trade balances, pending home sales and the PCE inflation print. The Bureau of Economic Analysis’ PCE report will be the last before the Federal Reserve’s next interest rate decision on September 18. Following the Jackson Hole Symposium, the context for the week is that the economy is slowing enough for the Federal Reserve to lower interest rates. Until then, Seeking Alpha Investing group leader Bret Jensen pointed out that the five signals of economic deterioration include rising unemployment, slowing GDP growth, weakening leading economic indicators, consumer distress and a flattening of the yield curve.

In addition to economic reports, Nvidia (NASDAQ:NVDA) earnings ratio has the potential to move markets. “While there was a lot of economic data and consumer earnings this week, let’s be honest, many traders were waiting for Nvidia’s earnings,” said Roundhill Financial CEO David Mazza. “Given that so much of this earnings season so far has focused on corporate AI spending, traders will want to see how much the stock can continue to benefit from this as it remains one of the only winners of AI,” he added. There are plenty of Nvidia (NVDA) previews from Seeking Alpha analysts that investors can explore. Next week’s earnings calendar also includes key reports from Salesforce (CRM), CrowdStrike (CRWD), Best Buy (BBY) and Dollar General (DG).

Earnings in focus: Monday, August 26 – BHP Group (BH), Heico (HEI), and Trip.com (TCOM). See the full earnings calendar.

Earnings in focus: Tuesday, August 27 – Bank of Montreal (BMO), Bank of Novia Scotia (BNS), PVH (PVH) and Box (BOX). Check out the full earnings calendar.

Earnings Spotlight: Wednesday, August 28 – Nvidia (NVDA), Salesforce (CRM), Royal Bank of Canada (RY), CrowdStrike (CRWD)), HP (HPQ), Okta (OKTA), JM Smucker (SJM) and Pure Storage (PSTG). See the full earnings calendar.

Earnings in focus: Thursday, August 29 – Dell Technologies (DELL), Marvell Technology (MRVL), Autodesk (ADSK), Dollar General (DG), Best Buy (BBY), Gap (GAP), Ulta Beauty (ULTA), and Lululemon (LULU). See the full earnings calendar.

volatility watch: Options trading volume is up on Sana Biotechnology (SANA) and Clover Health Investments (CLOV). The most overbought stocks on their 14-day relative strength index include BAIYU Holdings Inc (BYU), Nutex Health (NUTX) and U-BX Technology (UBXG). The most oversold stocks based on their 14-day relative strength index include Verrica Pharma (VRCA), Tela Bio (TELA) and Westrock Coffee (WEST). Short interest increased on Longeveron (LGVN) and Lucid Group (LCID). Trump Media & Technology Group (DJT) will be closely watched as Donald Trump is less than a month away from selling some of his 60% stake in the company. The stock has fallen 40% in the past six months.

IPO watch: No new IPOs are expected to begin trading in the US. The IPO lock-up period expires for a block of shares of SolarMax Technology (NASDAQ:SMXT).

Dividend view: Companies with an ex-dividend date next week include Johnson & Johnson ( JNJ ), Hyatt ( H ), Yum! Brands (YUM) and eBay (EBAY). Companies forecast to increase their quarterly dividend payments include Lam Research (LRCX) to $2.20 from $2.00 and Greif (GEF) to $0.54 from $0.52. Read some of the dividend stock picks from Seeking Alpha analysts.

Nvidia Earnings Preview: Nvidia ( NVDA ) will report earnings on August 28 in a highly anticipated report that could have wide-ranging implications for the AI ​​growth story. Analysts expect Nvidia ( NVDA ) to report revenue of $28.7 billion, operating profit of $18.8 billion, and EPS of $0.64. Research and development expenses for the quarter are expected to be $3.0 billion. Wedbush Securities’ Dan Ives thinks Nvidia’s (NVDA) report makes for the most important week of the year for the stock market this year. He noted that cloud numbers and AI data points from Microsoft ( MSFT ), Amazon ( AMZN ) and Google ( GOOG ) were strong during earnings season, indicating that massive demand for enterprise AI is now in progress. Of course, Nvidia ( NVDA ) had a strong start to the year, with its Q1 numbers coming in ahead of market expectations. Revenue rose 262% to $26 billion in the first quarter, largely due to accelerating demand for its artificial intelligence computing platforms. Hargreaves Lansdown analyst Aarin Chiekrie noted that Nvidia’s ( NVDA ) costs are well under control, which means operating profits are also growing. At Seeking Alpha, analysts are very bullish on Nvidia (NVDA). The Asian investor said there appeared to be no evidence of AI fatigue ahead of the company’s earnings report. Yiannis Zourmpanos called Nvidia (NVDA) a buy ahead of earnings day. “With solid customer confidence and a growing ecosystem, Nvidia is well-positioned to maintain its monopoly status in the rapidly expanding AI market, making it a key player to watch as the AI ​​revolution unfolds,” he mentioned Zourmpanos. One of the key aspects of Nvidia ( NVDA ) is the multiplier effect for every dollar spent on an Nvidia GPU chip. Nvidia’s ( NVDA ) major supplier that has the highest degree of directional trade correlation with the Santa Clara chip giant is Fabrinet ( FN ). The technology stocks most closely correlated with Nvidia after its earnings report release are Taiwan Semiconductor Manufacturing ( TSM ), Lam Research Corporation ( LRCX ), and ASML Holding NV ( ASML ). Options trading implies a 7% share price swing for Nvidia in the first full day of trading after earnings. Nvidia fell 2.5% after its latest earnings report. Based on market capitalization, Nvidia ( NVDA ) is the second most valuable company in the US, just ahead of Apple ( AAPL ).

Events for investors: The three-day VMWare Explore event will kick off in Las Vegas. Broadcom (NASDAQ:AVGO) CEO Hock Tan will address VMware Explore attendees during the keynote address titled “Shaping the Future of Cloud and AI Innovation.” The event has been used to announce strategic partnerships in the past. Super Micro Computer ( SMCI ), AMD ( AMD ), Micron ( MU ), Microsoft ( MSFT ), Expedia ( EXPE ), Mastercard ( MA ), and Visa ( V ) are some of the companies that will be attending the two days. Deutsche Bank Technology Conference. With respect to mergers and acquisitions, shareholders of Marathon Oil Corporation (NYSE:MRO) will vote on the planned merger with ConocoPhillips (NYSE: COP). The merger is part of a broader trend of oil and gas industry consolidation aimed at achieving greater efficiencies and economies of scale. The Federal Trade Commission’s HSR review period will expire later this week on Boeing’s ( BA ) acquisition of Spirit AeroSystems ( SPR ) and Darden Restaurants’ ( DRI ) acquisition of Chuy’s Holdings ( CHUY ).