From Nasdaq: 2024-05-20 10:08:00

Last week’s market reports indicated a soft landing for the economy, leading to new record highs in the stock market. This week sees major indices trending even higher, with the Dow up +30, S&P 500 up +10, and Nasdaq up +50. Furthermore, upcoming Fed speeches and NVIDIA earnings on Wednesday will provide crucial insights into the market’s trajectory.

NVIDIA is set to report fiscal Q1 earnings on Wednesday, with expectations of revenue growth exceeding +230% and earnings growth of over +400% year over year. The stock has surged nearly +200% in the past year, reflecting the A.I.-driven market boom. Analysts will be closely watching these results to assess the company’s trajectory and the broader A.I. economy.

Zacks experts have identified a little-known chemical company as the “Single Best Pick to Double.” This company has seen a 65% increase in the past year and boasts soaring 2022 earnings estimates. With $1.5 billion allocated for share repurchases, retail investors are eyeing a potential opportunity to jump in. The company is poised to rival other recent stock success stories, highlighting a potential for explosive growth.



Read more at Nasdaq: NVIDIA Earnings Wednesday to Dictate Trading Week