What an unusual week it's been for the stock market. Dow average exceeds 40,000 For the first time in its 128-year history, The S&P 500 and Nasdaq hit record highs on the same day.
return of “Rolling Kitty” That was a surprise, but the bigger surprise was GameStop and AMC: rise and fall very quickly and Memecoin was completely unfazed by the return.as if it had nothing to do with the meme stock trend.
moreover, easing inflation Expectations for a rate cut later this year rose, setting the tone for next week's trading. The Federal Reserve is scheduled to release new home sales statistics on Thursday to provide clarity on the economic trajectory.
This week will be filled with some interesting earnings reports, technology events, and a pizza celebration.
Nvidia's financial report attracts attention
Artificial intelligence (AI) Beloved stock Nvidia will report its first quarter of fiscal 2025 results after the closing bell on Wednesday.
Nvidia On Thursday, it neared an all-time high. $953.83 The price per share during the day before closing down.The all-time high closing price of the stock price is $950.02 The price per share was achieved on March 25th.
Ahead of Nvidia's first-quarter earnings report next Wednesday, Wall Street is pinning its first-quarter revenue expectations for the company at $24.5 billion, according to a FactSet survey of analyst forecasts. However, KeyBanc equity research analyst John Vin said NVIDIA is likely to report first-quarter revenue of $26 billion and set its second-quarter guidance at about $28.5 billion. .
The company is expected to report net income of $12.87 billion, marking significant growth from the final quarter of fiscal 2024 and up sharply from the $2.04 billion profit reported a year ago. . Analysts expect first-quarter earnings of $5.17 per share, compared with 82 cents a year ago.
Nvidia stock is Up about 99% so far this year; of The company's stock price has been rising since it announced its fourth quarter results in February.. The company's stock price fell just before earnings, but rebounded after the company announced sales of $22 billion, an increase of nearly 270% from a year earlier. The stock has increased 226% in the past 12 months.
Microsoft holds an AI event
As Nvidia is thriving, everyone seems to want AI. Technology giant Microsoft will host an AI event on Monday, May 20, the day before its developer event Build 2024 begins. Satya Nadella, the company's CEO, talks about how artificial intelligence is built into the company's hardware and software. This event will not be livestreamed and will only be open to journalists attending in person.
Other notable earnings reports
In addition to powerhouse Nvidia, investors will also be watching earnings reports from TJX and Target on Wednesday, and Dollar Tree and Ross Stores on Thursday.
Don’t forget to join the Bitcoin Pizza Party
bitcoin pizza party is also available on Wednesdays. This day is celebrated to commemorate the day when Bitcoin was first used for commercial purposes.
On May 22, 2010, a Florida man named Laszlo Haniec paid 10,000 Bitcoins for two pizzas from Papa John's. At the time, 10,000 Bitcoins were worth $41 to him. Many Bitcoins are currently worth a staggering $650 million.
In addition to the celebrations, hashtags like #BitcoinPizzaDay and #PizzaForBitcoin trend on social media platforms around this time every year as Bitcoin enthusiasts celebrate the progress of the cryptocurrency.
-Britney Nguyen contributed to this article
