The Dow Crosses 40,000 for the First Time
The Dow crossed the 40,000 mark for the first time in its 128-year history last week. Additionally, the S&P 500 and Nasdaq also hit record highs on the same day, marking an exceptional week for the stock market.
Meme Stocks and Memecoins
The return of “Roaring Kitty” surprised many, but an even bigger surprise was how meme stocks like GameStop and AMC boomed and busted quickly. Memecoins, on the other hand, remained unaffected by this trend.
Inflation and Interest Rates
An easing in inflation has raised expectations for interest rate cuts later this year. The Federal Reserve will release new home sales data on Thursday, which will help clarify the economy’s trajectory.
Upcoming Earnings Reports and Tech Events
This week is packed with earnings reports, tech events, and even some pizza celebrations.
All Eyes on Nvidia’s Earnings Report
Nvidia, a leading AI stock, will announce its first quarter of fiscal year 2025 on Wednesday after the closing bell. Wall Street expects the company’s first-quarter revenue to be around $24.5 billion, with some analysts predicting as high as $26 billion. Nvidia’s stock is up about 99% so far this year, with shares climbing 226% over the last 12 months.
Microsoft’s AI Event
Tech giant Microsoft is hosting an AI event on Monday, May 20, a day before its developer-focused event Build 2024 begins. CEO Satya Nadella will discuss how AI will be incorporated into Microsoft’s hardware and software.
Other Earnings Reports to Watch
Investors will also be watching earnings reports from TJX and Target on Wednesday, as well as Dollar Tree and Ross Stores on Thursday.
Bitcoin Pizza Party
Wednesday is also the Bitcoin pizza party, commemorating the day Bitcoin was first used for commercial purposes. On May 22, 2010, Laszlo Hanyecz paid 10,000 Bitcoin for two pizzas from Papa John’s. Those Bitcoins are now worth a staggering $650 million. Hashtags such as #BitcoinPizzaDay and #PizzaForBitcoin will trend on social media as enthusiasts celebrate the growth of cryptocurrency.
This article has been generated using various sources and artificial intelligence
Follow us on the social media platforms you're most comfortable with
Whatsapp – Telegram – Youtube – Instagram – X – Pinterest
