CEO Jensen Huang's Nvidia is one of the tech companies reporting earnings this week
Key Takeaways
Nvidia's scheduled earnings Wednesday highlight the tech financial reports calendar this week, along with quarterly updates from Salesforce, Marvell Technologies, Dell, and HP. Other noteworthy reports expected include retailers Costco, AutoZone, and Dick’s Sporting Goods.
Friday’s PCE inflation report will provide insight into price pressure in April, while investors will also be following updates to first-quarter GDP, the U.S. trade balance, and consumer confidence.
Federal Reserve officials set to speak this week include Federal Reserve Gov. Christopher Waller and New York Fed President John Williams, coming as the Fed is scheduled to release the minutes from its May meeting.
Tech companies Salesforce (CRM), Marvell Technology (MRVL), Dell Technologies (DELL), and HP (HPQ) are expected to deliver earnings this week. Market watchers will also be looking for reports from retailers Costco Wholesale (COST), AutoZone (AZO), Dick’s Sporting Goods (DKS), and Temu parent PDD Holdings (PDD).
The reports are set to arrive after a down week for stocks, which was punctuated Friday by a revival of trade-related uncertainty. You can recap last week's trading here.
In addition to Friday's personal consumption expenditures inflation report on Friday, investors will also be tuned into first-quarter gross domestic product (GDP) updates and the latest data on the U.S. trade balance and retail inventories. Consumer confidence and sentiment surveys also will be in focus.
Several Fed officials are on the speaking calendar, including Federal Reserve Gov. Christopher Waller, New York Fed President John Williams, and Minneapolis Fed President Neel Kashkari. Minutes from the latest Federal Open Market Committee (FOMC) meeting are also expected on Wednesday.
S&P CoreLogic Case-Shiller home price index (March)
Consumer confidence (May)
Minneapolis Fed President Neel Kashkari is scheduled to speak
AutoZone, Bank of Nova Scotia (BNS), Heico (HEI.A), Okta (OKTA), Champion Homes (SKY), Box (BOX), and PDD Holdings are scheduled to report earnings
Wednesday, May 28
Minutes of May FOMC meeting released
Fed Gov. Waller and New York Fed President Williams are scheduled to speak
Nvidia, Salesforce, Synopsys (SNPS), Bank of Montreal (BMO), Veeva Systems (VEEV), Agilent Technologies (A), HP, and Dick’s Sporting Goods are scheduled to report earnings
Thursday, May 29
Initial jobless claims (Week ending May 24)
Gross domestic product - first revision (Q1)
Pending home sales (April)
San Francisco Fed President Mary Daly and Chicago Fed President Austan Goolsbee are scheduled to speak
Costco, Royal Bank of Canada (RY), Dell Technologies, Canadian Imperial Bank of Commerce (CM), Marvell Technology, Zscaler (ZS), and Li Auto (LI) are scheduled to report earnings
Friday, May 30
Personal Consumption Expenditures (PCE) Price Index (April)
Advance U.S. trade balance (April)
Advance retail inventories (April)
Advance wholesale inventories (April)
Chicago Business Barometer (May)
Consumer sentiment - final (May)
Atlanta Fed President Raphael Bostic and Chicago Fed President Austan Goolsbee are scheduled to speak
Shoe Carnival (SCVL) is scheduled to report earnings
Nvidia Earnings Highlight Slate of Tech, Retail, Financial Reports This Week
Salesforce’s expected report on Wednesday comes after the cloud software provider reported 8% revenue growth in its prior quarter on the growth of its Agentforce custom AI platform. While the firm delivered a worse-than-expected outlook, analysts said the company had strong potential for growth.
Thursday’s scheduled report from Dell Technologies will show whether the computer maker continues to benefit from increased demand for AI infrastructure after it grew server and networking sales by 37% in the prior quarter. Morgan Stanley recently raised its price target for the company, citing growing server sales momentum on AI demand. Market watchers will also be following computer equipment maker HP’s scheduled report on Wednesday.
Costco Wholesale is on Thursday’s corporate calendar, coming as the membership-based retailer reported that its April sales rose by 7%, which analysts attributed partly to customers rushing purchases ahead of U.S. tariffs. Costco reported a 9% revenue growth in its prior quarter on increased revenue from higher membership fees.
AutoZone’s scheduled report on Tuesday follows an upgrade from Bank of America Securities as analysts argued that higher auto costs from U.S. tariffs could lead to more vehicle repairs by cost-conscious drivers. Dick’s Sporting Goods’ expected report on Wednesday follows its recent deal to acquire sporting goods retailer Foot Locker (FL).
Investors will be watching the scheduled Thursday report from Chinese EV Li Auto, which competes with Tesla (TSLA) sales in that nation. The Tuesday report from PDD Holdings comes as the parent of Chinese-based online retailer Temu faces pressure from U.S. tariffs.
Inflation, GDP, Fed Speakers in Focus
Friday’s scheduled release of the Personal Consumption Expenditures Price Index will show how the Federal Reserve’s preferred measure of inflation fared in April. A similar inflation reading showed that price increases cooled somewhat in April, and the Fed has said it is closely watching prices in the wake of Trump’s tariffs.
Wednesday’s expected release of the minutes of the May meeting of the FOMC will provide more insight into Fed officials’ deliberations over interest rates and the economy. Likewise, several Fed officials are scheduled to speak during the week, including Fed Gov. Waller, New York Fed President Williams, and San Francisco Fed President Daly.
Revisions to first-quarter GDP are expected on Thursday after the initial report last month showed that the economy shrank in the first three months of 2025.
The state of the consumer will also be in focus for investors, with reports on consumer confidence and consumer sentiment scheduled to be released this week. The reports come as recent surveys show that consumers’ moods have soured over concerns that tariffs will drive prices higher. Friday’s expected reports on the U.S. trade deficit, retail inventories, and wholesale inventories will provide more detail on how U.S. tariffs are affecting the economy.
