Yahoo Finance Stocks await Nvidia earnings, Target, Fedspeak: 3 Things
Stocks (^DJI, ^IXIC, ^GSPC) are preparing for Nvidia's (NVDA) earnings due out after the market close, which could be a make-or-break factor for May market rallies.
Target (TGT) narrowly missed first-quarter estimates on the top and bottom lines as the retailer reports consumer pullbacks on discretionary spending.
Minutes from the Federal Reserve's latest FOMC meeting will be released this afternoon, giving a clearer indication of where the Fed stands on interest rates following commentary from central bank officials.
For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.
This post was written by Luke Carberry Mogan.
Video transcript
Let's get right to it with the three things that you need to know this Wednesday morning, your road map for the trading day.
Yahoo Finance's Jared Blier.
Brian Sazzy and Jennifer Schonberger have more teachers mixed this morning ahead of the biggest earnings report of the season.
In video.
The A I chip J is set to report its first quarter earnings after the bill today offering the biggest test for Wall Street's rally.
Wall Street is expecting in video to report revenue and profits that rose more than 200% and 400% for the year prior as the company experiences a surge in demand for its chips amid the A I boom.
All right, inflation battered households are saying no to putting extra stuff in there already.
Big shopping baskets.
Shares of target are tanking after earnings.
Miss estimates on the back of more cautious us, shoppers comparable sales dropped 3.7% of the fourth straight quarter of decline for this key metric.
The company is now warning that the thriftier consumer vibe may continue throughout the summer.
And Cleveland that President Lore a master and Boston that President Susan Collins both said Tuesday night, they need to see more evidence.
Inflation is cooling before lowering rates that J PA said the F needs to see more than a quarter's worth of good inflation data before cutting rates will get minutes from the feds policy meeting this afternoon at 2 p.m. Eastern to see whether officials still sounding a hawkish tone.
