Investing.com — AI darling Nvidia reports quarterly results, the crypto rally continues, the UK is due to release inflation data and oil prices look set to be on the back foot. Here’s your look at what’s happening in the markets next week.
1. Nvidia results
Chipmaker Nvidia (NASDAQ: ), a bellwether for the AI frenzy that has boosted the stock this year, is scheduled to report third-quarter earnings after the close on Wednesday.
The results could gauge investor appetite for tech stocks, AI trading and broader sentiment for equities after the post-election market rally stalled.
Nvidia’s chips are seen as the gold standard in the AI-space and its shares are up nearly 200% this year, overtaking Apple (NASDAQ: It has become a big company. Its heavy weighting has helped the index to record highs this year.
Investors’ expectations for earnings are high, increasing the potential for short-term volatility.
Last week, analysts at Raymond James raised their price target on Nvidia to $170 from $140, reiterating that “any pullback is due to high expectations.” [is] An opportunity.”
2. Crypto rally
Bitcoin has surged 30 percent since the Nov. 5 U.S. election, topping $90,000 for the first time, amid a rally that shows no signs of stopping.
The entire cryptocurrency market cap has surpassed $3 trillion for the first time, which means that other digital assets currently equal the market cap of Elon Musk’s Tesla (Nasdaq: ), Facebook (Nasdaq: ) combined. Meta and Warren Buffett’s Berkshire Hathaway (NYSE: ).
The rally is being driven by expectations of a more favorable regulatory environment under the Trump administration and with momentum continuing to build, some analysts see a six-figure bitcoin price as a growing possibility.
A one-time crypto-skeptic, President-elect Donald Trump has promised to establish a national bitcoin reserve and make the US a global hub for the industry, but it remains to be seen how realistic his promises will be and whether he will be able to do so. What will be the timeline? Implementation
3. US data, FedSpec
The US economic calendar is quieter in the coming week, but investors will get updates on the health of the housing sector, which reports, and.
The calendar also includes a weekly report, while Friday’s sector PMI data could give an early indication of how companies are reacting to the threat of Trump’s proposed trade tariffs – a data point that markets will closely monitor from here on out. Will see.
Elsewhere, Tuesday’s earnings results from Walmart (NYSE: ) and Lowe’s (NYSE: ) will provide fresh insight into the strength of consumer spending.
Investors will also have the opportunity to hear from several Federal Reserve officials, including Chicago Fed President Austin, Kansas Fed President Jeffrey and Cleveland Fed President Beth Hammick.
4. Oil prices.
Oil prices fell nearly 2 percent on Friday, extending losses for the week as fears of a slowdown in demand from China and the prospect of a slower pace of Fed rate cuts weighed.
For the week, it fell about 4 percent, while stocks declined about 5 percent.
Data on Friday showed Chinese refineries processed less crude in October as domestic demand weakened, raising concerns about the economic outlook for the world’s biggest crude importer.
Earlier in the week, the International Energy Agency predicted that global oil demand would decline, leading to an oil surplus in 2025.
Meanwhile, Fed Chair Jerome Powell indicated on Thursday that the central bank could afford to be cautious with the pace and scope of future rate cuts, given continued economic growth, a solid job market, and inflation under the Fed’s 2 percent is above the target.
Low interest rates typically spur economic growth, which helps fuel demand.
5. UK Inflation
Britain is due to release CPI data for October on Wednesday, with economists expecting the annual rate of inflation to rise, returning above the Bank of England’s 2% target.
That would be up from 1.7% in September, the first time the annual rate of inflation fell short of the BoE’s target in three years.
The BoE made a second 25 basis point rate cut earlier this month and said further cuts were likely to be gradual as it assessed the persistence of inflationary pressures, including the first budget of the new UK government.
BoE Governor Andrew Bailey, along with several other officials, will appear before Parliament’s Treasury Committee on Tuesday to answer questions on inflation and the outlook for monetary policy.
The UK will release October data on Friday as well as sector PMI data.
