There are a handful of earnings reports this week that could draw investor attention. Oracle Corporation (NYSE:ORCL), increasingly positioning itself as a major player in cloud and AI, will report after the market close on Tuesday. A strong print could help sustain the recent tech-driven rally. GameStop Corporation (NYSE:GME), the original meme stock, also reports Tuesday and may draw interest as the company continues its pivot. Adobe Inc. (NASDAQ:ADBE), which has been under pressure and recently hit lows not seen since 2023, will look to use its Q3 results to reset sentiment.
On the macro front, August Producers Price Index (PPI) and Consumer Price Index (CPI) data will be released, offering fresh reads on inflation. The probability of a Fed rate cut at this month’s meeting is near 100% following last week’s weak jobs report, so the data may not alter expectations. However, markets faded Friday as investors reconsidered what the soft employment numbers imply for economic health. If inflation prints hotter than expected, it could reignite concerns that the Fed delayed too long in easing policy, potentially rattling markets.
The trade narrative also lingers in the background. Updates may emerge regarding the legality of existing tariffs and whether collected duties might need to be refunded. How this impacts the prior trade deadlines and negotiations also remains uncertain. While the issue has yet to weigh meaningfully on markets, the outcomes carry risks—and none appear particularly favorable for bullish investors.
Monday
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Tuesday
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Earnings: ORCL GME
Wednesday
PPI
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Thursday
CPI
Earnings: ADBE
Friday
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Tracking This Week
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GameStop Corporation (NYSE:GME) has been flat for weeks as investors wait for clarity on its pivot into crypto and collectibles. The lack of interest could also be attributed to fears of further dilution as CEO Ryan Cohen has a history of issuing new shares during rallies. Earnings this week could provide important updates on the collectibles business and how the company is deploying its sizable cash reserve.
NVIDIA (NASDAQ:NVDA) pulled back after Broadcom’s earnings raised concerns about competition in AI chips. The reaction may be overstated since Broadcom’s focus is custom silicon, which is a niche segment and not NVIDIA’s core market.
Tesla Inc (NASDAQ:TSLA) brushed off reports of slowing sales, a widely mocked Optimus video showing sluggish and unresponsive robot, and Austin robotaxi setbacks. Momentum appeared to be built after news of a potential trillion-dollar pay package for Elon Musk. The name continues to be disconnected from fundamentals and appears ready to break out.
