5 things to know before the stock market opens on Monday, May 20th

Here are the most important news items investors need to start their trading day:

history. After reaching the intraday mark on Thursday, the Dow Jones Industrial Average closed above $40,000 for the first time ever on Friday, capping off a solid week. The Dow rose 1.2% for the week, marking its fifth consecutive week of gains. The S&P 500 and Nasdaq Composite are up 1.5% and 2.1%, respectively, since the start of the week, marking their longest winning streak since February. And now, in the second quarter, all three of his indexes are in positive territory. The S&P 500 and Nasdaq are each up more than 11% year-to-date in 2024, while the Dow is up more than 6% so far. Follow live market updates.

All eyes will be on Nvidia’s earnings this week. At $2.3 trillion, the company is the third-largest S&P 500 company by market capitalization. This means the chipmaker is large enough that a significant reaction could be a market-moving event. There are several other revenue struggles, but none as big as this phenomenon at the forefront of the artificial intelligence boom. Here are the earnings to watch this week:

Monday: Palo Alto Networks, Zoom Video (After the Bell)

Tuesday: Lowe’s, Macy’s (in front of the bell)

Wednesday: Target, TJX Companies (Before Bell). Nvidia, Snowflake (after the bell)

Thursday: Working day (after the bell)

We are in uncharted territory of debt and deficits. The federal debt has reached $34.5 trillion, raising the level of concern on Wall Street and Washington. It has grown nearly 50% since the beginning of the coronavirus pandemic and now accounts for more than 120% of the federal economy. The Congressional Budget Office estimates that the amount of debt held by Americans relative to gross domestic product will increase “by an amount greater than at any time in the nation’s history.” Big names like Federal Reserve Chairman Jerome Powell, JPMorgan Chase & Co. CEO Jamie Dimon, and Bridgewater Associates founder Ray Dalio have recently spoken out about their concerns. “Everyone should read what’s coming out about the U.S. budget deficit, and this is something that our elected officials need to act on immediately,” Powell told the audience Tuesday. We should be very concerned about that.” Banker in Amsterdam.

Now it’s Microsoft’s turn to show off its latest artificial intelligence project. After OpenAI and Google recently announced new AI models, Microsoft will be announcing how Windows will enable AI PCs this week at the Build developer conference in Seattle. Microsoft has an advantage over its competitors because of its ownership of Windows, which gives it a huge PC user base. AI PCs differ from regular computers in that they have special processing units designed to handle artificial intelligence tasks. Qualcomm’s chips could be found in some next-generation Windows computers.

The media giant wooed advertisers last week with a star-studded upfront presentation, making its annual pitch by highlighting upcoming shows and movies. But even as the stars returned after the Hollywood writers’ strike, the hangover from last year’s production suspension and cost-cutting efforts was evident. Some media companies have reduced the number of series and movies they feature. That meant live sports remained important, with huge appeal for many viewers and advertisers. The NFL played a role in presentations for every major media company, including Netflix. The streamer made perhaps the biggest sports-world buzz of the week when it was announced hours before the presentation that he would be broadcasting his NFL games on Christmas Day for the next three years.

— Lisa Kailai Han, CNBC Sarah Min, Jeff Cox, Kristina Partinevelos, Todd Haselton and Lillian Rizzo contributed to this report.

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