On Monday, US equities were mixed, fluctuating marginally following a surge to all-time highs last week in response to a positive April inflation report
Artificial intelligence will be the primary focus of investors this week, as Nvidia earnings are scheduled to be published on Wednesday after the market closes.
The quarterly revenue anticipated by investors is approximately $25 billion, representing a fourfold increase compared to the $6.5 billion generated in the corresponding period of the previous year.
Microsoft’s 2024 Build Conference, which will feature the company’s newest software and hardware, is the second major AI event of the week.
“We expect Microsoft to push Copilot further into its consumer/enterprise product stack and more integration with Excel, Teams, Word along with new Surface products and Windows features front and center,” Dan Ives, an analyst at Wedbush, stated in a Monday note.
On the economic front, nine Federal Reserve officials will address investors on Monday and Tuesday. The Federal Open Market Committee meeting minutes in May, existing home sales figures for Wednesday morning, and PMI data for Thursday are among the data releases this week.
On Monday, shortly after the 9:30 a.m. opening chime, US indexes were as follows:
S&P 500: 5,310.23, up 0.16%
Dow Jones Industrial Average: 39,926.77, down 0.20% (-79.18 points)
Nasdaq composite: 16,760.43, up 0.44%