This Week’s Macro Outlook: Jensen Huang to Appear at NVIDIA GTC, Fed Enters Blackout Period, Meta and Tesla Earnings in the Spotlight
October 19 — U.S. tech stocks fell sharply last week, with the Nasdaq down more than 4% for the week. As markets digested stronger-than-expected inflation data, investors took another look at the “the economy can’t be broken” narrative. The Federal Reserve has entered its blackout period ahead of the October 28 FOMC meeting, leaving officials without public commentary. This week, pricing will depend more heavily on earnings from tech giants and economic data: Meta and Tesla are among the companies reporting, while semiconductor and memory stocks are also entering their earnings window. Friday’s preliminary eurozone and U.S. PMIs, along with the University of Michigan’s final consumer sentiment reading, will offer a test of the rate outlook. On the geopolitical front, Trump has paused the implementation of comprehensive sanctions on Russia and tariffs, setting an evaluation window of around 60 days. Disruptions to shipping through the Strait of Hormuz and the risk of further escalation in the Middle East continue to support an oil price premium. Key events are listed below:
Tuesday:
NVIDIA GTC Berlin kicks off (through the 22nd).
Wednesday:
U.S. API and EIA crude oil inventories for the week ending October 16;
In the evening Beijing time, NVIDIA CEO Jensen Huang will deliver a keynote at GTC Berlin;
A major earnings day for U.S. stocks: Meta, Tesla, IBM, and Lam Research report after the close.
Thursday:
U.S. initial jobless claims for the week ending October 17;
Nokia reports before the U.S. market opens; Western Digital and MaxLinear report after the close.
Friday:
U.S. October S&P Global preliminary manufacturing and services PMIs;
Final readings of the University of Michigan’s October consumer sentiment index and one-year inflation expectations;
Japan’s September CPI and preliminary October composite, manufacturing, and services PMIs. Markets will use these figures to assess inflation trends ahead of the Bank of Japan’s October 30 decision. #灰度联合Republic推出三只加密基金
October 19 — U.S. tech stocks fell sharply last week, with the Nasdaq down more than 4% for the week. As markets digested stronger-than-expected inflation data, investors took another look at the “the economy can’t be broken” narrative. The Federal Reserve has entered its blackout period ahead of the October 28 FOMC meeting, leaving officials without public commentary. This week, pricing will depend more heavily on earnings from tech giants and economic data: Meta and Tesla are among the companies reporting, while semiconductor and memory stocks are also entering their earnings window. Friday’s preliminary eurozone and U.S. PMIs, along with the University of Michigan’s final consumer sentiment reading, will offer a test of the rate outlook. On the geopolitical front, Trump has paused the implementation of comprehensive sanctions on Russia and tariffs, setting an evaluation window of around 60 days. Disruptions to shipping through the Strait of Hormuz and the risk of further escalation in the Middle East continue to support an oil price premium. Key events are listed below:
Tuesday:
NVIDIA GTC Berlin kicks off (through the 22nd).
Wednesday:
U.S. API and EIA crude oil inventories for the week ending October 16;
In the evening Beijing time, NVIDIA CEO Jensen Huang will deliver a keynote at GTC Berlin;
A major earnings day for U.S. stocks: Meta, Tesla, IBM, and Lam Research report after the close.
Thursday:
U.S. initial jobless claims for the week ending October 17;
Nokia reports before the U.S. market opens; Western Digital and MaxLinear report after the close.
Friday:
U.S. October S&P Global preliminary manufacturing and services PMIs;
Final readings of the University of Michigan’s October consumer sentiment index and one-year inflation expectations;
Japan’s September CPI and preliminary October composite, manufacturing, and services PMIs. Markets will use these figures to assess inflation trends ahead of the Bank of Japan’s October 30 decision. #灰度联合Republic推出三只加密基金