November 17th - The Week Ahead

In partnership with Carousel

The Week Ahead Of Us 🔍

Welcome back!

Last Friday we had a bit of a shocker where a lot of stocks gave up most of their post-election gains, with S&P down -1.3% and Nasdaq down -2.2%. The post-election trade lost some steam, but traders were genuinely concerned about the pace of Fed cuts given the strength in the US economy.

December Fed rate cut odds have shifted downward to 50% following solid retail sales numbers last week. A lot of this trading action also precedes a Trump presidency that may increase the deficit and drive tariff related inflation, which would make rate cuts challenging.

Here’s a look at earnings this week. The big one is Nvidia after the bell on Wednesday - especially given some rumored concerns with their Blackwell chips (we’ll get into that below).

• Monday: Polestar

• Tuesday: Walmart, Lowes, Medtronics, Keysight Technologies, Dollar Tree

• Wednesday: Nvidia, TJX Companies, Palo Alto Networks, Target, Snowflake

• Thursday: Intuit, PDD Holdings, John Deere, Copart, Ross, Baidu, Gap

Here’s a look at economic data this week.

• Tuesday: Housing starts (est. 1.34MM), Building permits (est. 1.44MM)

• Thursday: Initial jobless claims (220,000), Existing home sales (est. 3.91MM)

• Friday: S&P flash U.S. services PMI (est. 48.8), S&P flash U.S. manufacturing PMI (est. 48.8), Consumer sentiment (est. 73.5)