Nvidia Earnings to Set Tech Tone Amid Murky Economic Signals
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Nvidia's earnings report on Wednesday will be closely watched as a barometer for tech and the broader market. Consensus estimates project huge growth.
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Recent economic data has challenged the "soft landing" narrative of inflation falling without a severe downturn. Markets now expect Fed rate cuts to start in June, not March.
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With few major catalysts, Nvidia's report and retail earnings from Walmart, Home Depot, and others will be in focus this week.
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Despite recent data, the fundamental economic and market narratives haven't changed much. Stocks continue reaching new highs.
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Earnings reporting season has been decent so far and could lead to a market rally that broadens beyond tech later this year.