It’s a pivotal week for markets as earnings season hits full stride, with over half of the Mag 7 set to report. Microsoft (NASDAQ:MSFT), Meta (NASDAQ:META), Amazon (NASDAQ:AMZN), and Apple (NASDAQ:AAPL) will all post results, and the focus will be on forward guidance more than headline beats. Amazon and Apple may show more sensitivity to ongoing trade tensions, while Meta will be closely watched to see if its heavy AI investments are translating into ad revenue growth. NVIDIA (NASDAQ:NVDA) and broader AI plays such as the VanEck Semiconductor ETF (NASDAQ:SMH) could benefit as companies are expected to outline increased AI infrastructure spend. Also notable is UnitedHealth Group (NYSE:UNH), where margin performance could ripple across the healthcare sector.
The macro calendar is equally packed. The week kicks off with JOLTS data on Tuesday, followed by the key FOMC interest rate decision on Wednesday. While rates are expected to remain unchanged, recent political pressure on Fed Chair Powell by President Trump adds some intrigue. Inflation will be in focus later in the week, with Personal Consumption Expenditure (PCE) data on Thursday and Purchasing Managers’ Index (PMI) on Friday — both critical for not only potentially validating the Fed’s decision but shaping future rate expectations.
Trade remains the constant wildcard, but recent developments have been supportive. The U.S. has made progress with Japan, Indonesia, and the Philippines, and talks with the EU, Canada, and China appear to be moving in a positive direction. A U.S.-China meeting early this week could bring further good news. However, most of these “agreements” remain verbal commitments — a likely strategy by foreign governments to delay formal action while reinforcing supply chains. Still, the momentum is encouraging, though investors should stay alert for sudden shifts.
Monday
Tuesday
JOLTS
Earnings: SOFI PYPL UNH PG V SBUX
Wednesday
Fed Interest Rate Decision
Earnings: MSFT META HOOD QCOM ARM
Thursday
Personal Consumption Expenditure (PCE)
Earnings: MA RBLX BMY AMZN AAPL COIN NET ROKU
Friday
Purchasing Managers’ Index (PMI)
Earnings: CVX XOM
Tracking This Week
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GameStop Corp (NYSE:GME) has been range-bound since its last earnings report, with investors hesitant to chase the stock higher given CEO Ryan Cohen’s history of issuing shares during rallies. However, the setup may be shifting. With a strong capital position and a more stabilized retail footprint, GameStop appears positioned to pursue strategic growth. Its absence from the recent meme stock resurgence may even signal a pivot toward a more serious, fundamentals-driven trajectory—perhaps all of this was a deliberate move by Cohen to reshape investor perception.
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Workday Inc (NASDAQ:WDAY) isn’t often in the spotlight, as its platform operates largely behind the scenes. However, it remains a core enterprise tool used by HR and finance departments across major corporations—and its software is known for being particularly sticky. The stock has been in a funk lately, not due to any material fundamental issues but rather a lack of investor interest. That could begin to change if market attention shifts back toward high-quality undervalued enterprise software names.
