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⚡️This Week's Macro Outlook: Jensen Huang Appears at NVIDIA GTC, the Federal Reserve enters its blackout period, and Meta and Tesla earnings become the market focus
BlockBeats News,October 19, U.S. technology stocks saw a sharp pullback last week, with the Nasdaq falling more than 4%for the week. While digesting stronger-than-expected inflation data, the market is reassessing the “economy cannot be brought down” narrative. The Federal Reserve has entered its October 28 FOMC pre-meeting blackout period, with officials absent from public commentary. This week's pricing will be driven more by technology giants' earnings and economic activity data: Meta and Tesla will report earnings in succession, while the semiconductor and memory sectors also enter their earnings-release window. On Friday, preliminary U.S. and European PMI readings and the final Michigan sentiment reading will test the interest-rate path. Geopolitically, Trump has suspended the implementation of comprehensive sanctions and tariffs against Russia and set an assessment window of approximately 60 days. Disruptions to shipping through Hormuz and the risk of escalation in the Middle East continue to support the oil-price premium. Key events are as follows:
Tuesday:
NVIDIA GTC Berlin conference opens (through 22).
Wednesday:
U.S.October 16 weekly API、EIA crude oil inventories;
In the evening Beijing time, NVIDIA CEO Jensen Huang will deliver a keynote at GTC Berlin;
U.S. stocks enter a major earnings day, with Meta, Tesla,IBM, and Lam Research reporting earnings after the market close.
Thursday:
U.S. initial jobless claims for the week ending October 17;
Before the U.S. market opens, Nokia will report earnings; after the close, Western Digital and MaxLinear will report earnings.
Friday:
U.S.October S&P Global manufacturing and services PMI preliminary readings;
U.S.October final University of Michigan Consumer Sentiment Index, and 1-year inflation expectations final reading;
Japan September CPI, Japan October composite/manufacturing/services PMI preliminary readings, through which the market will gauge October 30 inflation conditions ahead of the Bank of Japan decision.
Original link https://m.theblockbeats.info/flash/372458