Use the Table of Contents to jump around:<\/p>\n
Nvidia Week! This Week's Trading Calendar<\/strong><\/h2>\nYes, we know you're pumped for Nvidia's<\/strong> (NVDA) earnings report Wednesday, but click the calendar image to see what else is on tap:<\/p>\n![\"\"](\"https:\/\/blog.t3live.com\/wp-content\/uploads\/2023\/05\/T3-Live-Calendar-Earnings-Economics-2023-05-15.png\" "\\"T3")
<\/span><\/p>\nClick to enlarge<\/em><\/p>\nTech Is on the Warpath!<\/strong><\/h2>\nWhat a week! We just saw:<\/p>\n
\n- Retailers like Walmart<\/strong> (WMT), Target<\/strong> (TGT), and Foot Locker <\/strong>(FL) warning about the outlook for consumer spending<\/li>\n
- A huge tech stock rally led by momentum names like Nvidia<\/strong> (NVDA) and AMD<\/strong> (AMD)<\/li>\n
- Elon Musk scoring major wins on Tesla's (TSLA) Investor Day and his interview with CNBC's David Faber<\/li>\n<\/ul>\n
Here's a look at the four horseman ETFs:<\/p>\n
![\"\"](\"https:\/\/blog.t3live.com\/wp-content\/uploads\/2023\/05\/Screen-Shot-2023-05-19-at-3.05.05-PM.png\" "\\"Screen")
<\/span><\/p>\n(data as of 3 p.m. Friday)<\/em><\/p>\nYear-to-date, the QQQ's<\/strong> are still crushing the other big ETFs thanks to giant rallies in names like Apple<\/strong> (AAPL), Microsoft<\/strong> (MSFT), and Google<\/strong> (GOOGL).<\/p>\nNow let's look forward to next week.<\/p>\n
US Economic Data<\/strong><\/h2>\nWe have some important US economic data reports on tap including:<\/p>\n
\n- Tuesday<\/strong>: New Home Sales, Manufacturing & Services PMI's<\/li>\n
- Wednesday<\/strong>: FOMC Meeting Minutes<\/li>\n
- Thursday<\/strong>: GDP, Jobless Claims, Pending Home Sales<\/li>\n
- Friday<\/strong>: Durable Goods Orders, Core PCE Price Index<\/li>\n<\/ul>\n
The biggie this week is that Core PCE Price Index because the Fed watches it closely as an inflation barometer.<\/p>\n
As of Friday afternoon, traders were pricing in a 17.4% probability of a June rate hike, up from 10.7% two weeks ago thanks to recent economic reports showing some inflationary pressure. <\/p>\n
And overseas, we get:<\/span><\/p>\n\n- Monday<\/strong>: Japan Services PMI, Brazil Focus Market Readout<\/li>\n
- Tuesday<\/strong>: <\/strong>France\/Germany\/England PMI's, New Zealand Rate Decision<\/li>\n
- Wednesday<\/strong>: England CPI & PPI, ECB Policy Meeting, South Africa CPI, Germany Business Expectations<\/li>\n
- Thursday<\/strong>: Germany GDP, South Africa Rate Decision, Japan CPI, Australia Retail Sales<\/li>\n
- Friday<\/strong>: England Retail Sales, Switzerland Employment<\/li>\n<\/ul>\n
Nvidia Earnings Time!<\/strong><\/h2>\nEarnings season is coming to a close, but we have some important reports next week, topped by chipmaker Nvidia<\/strong> (NVDA).<\/p>\n\n- Monday<\/strong>: Zoom<\/strong> (ZM), Nordstrom<\/strong> (JWN)<\/span><\/span><\/li>\n
- Tuesday<\/strong>: Intuit<\/strong> (INTU), Lowe's<\/strong> (LOW), Palo Alto Networks<\/strong> (PANW)<\/span><\/span><\/li>\n
- Wednesday<\/strong>: Nvidia<\/strong> (NVDA), Analog Devices<\/strong> (ADI), Snowflake<\/strong> (SNOW)<\/span><\/span><\/li>\n
- Thursday<\/strong>: Costco<\/strong> (COST), Medtronic<\/strong> (MDT), Netease<\/strong> (NTES), Workday<\/strong> (WDAY), Autodesk<\/strong><\/span><\/li>\n
- Friday<\/strong>: VMWare<\/strong> (VMW), Buckle<\/strong> (BKE)<\/span><\/li>\n<\/ul>\n
Yes, we'll hear a lot about the consumer from Costco (COST) and Lowe's (LWO), but we all want to know about Nvidia.<\/p>\n
Here's a few fun facts of which you may not be aware:<\/p>\n
\n- Semiconductors is the #1 sector of 2023 with a 31%+ gain for the SMH ETF<\/li>\n
- Nvidia is the #1 performer in the SMH ETF this year with a 114% gain<\/li>\n
- Nvidia is the #1 performer in the S&P 500 Index<\/li>\n
- Nvidia is the #1 performer in the Nasdaq 100 Index<\/li>\n<\/ul>\n
So everyone wants to see if this mega stock can keep the momentum up.<\/p>\n
As far as we're concerned, THIS is the event of earnings season. Sorry Apple…<\/p>\n
By the way, if you want to trade Nvidia before or after the report, check out the Inner Circle VTF\u00ae<\/a> – our team is very active with Nvidia<\/strong> and its rival AMD<\/strong> (AMD).<\/p>\nEarning Season… Not Good But Not a Disaster Either<\/h2>\n
As we noted last week, earnings season is pretty strong relative to expectations.<\/p>\n
According to FactSet<\/a>, 95% of S&P 500 companies have reported, and so far:<\/p>\n
Click to enlarge<\/em><\/p>\n What a week! We just saw:<\/p>\n Here's a look at the four horseman ETFs:<\/p>\n (data as of 3 p.m. Friday)<\/em><\/p>\n Year-to-date, the QQQ's<\/strong> are still crushing the other big ETFs thanks to giant rallies in names like Apple<\/strong> (AAPL), Microsoft<\/strong> (MSFT), and Google<\/strong> (GOOGL).<\/p>\n Now let's look forward to next week.<\/p>\n We have some important US economic data reports on tap including:<\/p>\n The biggie this week is that Core PCE Price Index because the Fed watches it closely as an inflation barometer.<\/p>\n As of Friday afternoon, traders were pricing in a 17.4% probability of a June rate hike, up from 10.7% two weeks ago thanks to recent economic reports showing some inflationary pressure. <\/p>\n And overseas, we get:<\/span><\/p>\n Earnings season is coming to a close, but we have some important reports next week, topped by chipmaker Nvidia<\/strong> (NVDA).<\/p>\n Yes, we'll hear a lot about the consumer from Costco (COST) and Lowe's (LWO), but we all want to know about Nvidia.<\/p>\n Here's a few fun facts of which you may not be aware:<\/p>\n So everyone wants to see if this mega stock can keep the momentum up.<\/p>\n As far as we're concerned, THIS is the event of earnings season. Sorry Apple…<\/p>\n By the way, if you want to trade Nvidia before or after the report, check out the Inner Circle VTF\u00ae<\/a> – our team is very active with Nvidia<\/strong> and its rival AMD<\/strong> (AMD).<\/p>\n As we noted last week, earnings season is pretty strong relative to expectations.<\/p>\n According to FactSet<\/a>, 95% of S&P 500 companies have reported, and so far:<\/p>\n<\/span><\/p>\nTech Is on the Warpath!<\/strong><\/h2>\n
\n
<\/span><\/p>\nUS Economic Data<\/strong><\/h2>\n
\n
\n
Nvidia Earnings Time!<\/strong><\/h2>\n
\n
\n
Earning Season… Not Good But Not a Disaster Either<\/h2>\n
![\"\"](\"https:\/\/blog.t3live.com\/wp-content\/uploads\/2023\/05\/etf-leaderboard-2023-05-19.png\" "\\"etf-leaderboard-2023-05-19\\"")
<\/span><\/p>\n![\"\"](\"https:\/\/blog.t3live.com\/wp-content\/uploads\/2023\/05\/carvana-short-squeeze-2023.png\" "\\"carvana-short-squeeze-2023\\"")
<\/span> <\/p>\n