NVIDIA and Dell Prepare to Release Earnings Reports as Inquiries Center Around Core PCE Inflation Indicator

Next week is set to be a busy one for investors, with several major companies set to release their second-quarter earnings and a host of important economic reports due for release.

Analysts expect NVIDIA to report earnings per share of $1.01 on revenue of $46B in its second-quarter earnings next week. Most analysts believe Nvidia will surpass consensus estimates across the board. Other tech giants such as Dell, CrowdStrike, Snowflake, HP, and Li Auto are also expected to report their earnings next week.

On Wednesday, August 27, NVIDIA, CrowdStrike, Snowflake, and HP will report earnings, while Dell, Dollar General, Li Auto, Ulta Beauty, and Best Buy will do so on Thursday, August 28. The company Alibaba and Frontline will report earnings on Friday, August 29.

In the world of economics, next week will see the release of several key reports. Building Permits, Chicago Fed National Activity, Durable Goods Orders, House Price Index, MBA Mortgage Applications, Crude Oil Imports, Gasoline Production, Core PCE Prices, GDP, Pending Home Sales, Core PCE Price Index, Chicago PMI, Personal Income, and Personal Spending will all be released.

The newsletter Seeking Alpha's Wall Street Week Ahead previews key events for the coming week, including upcoming IPOs, investor days, earnings reports, and conference presentations. However, no new IPOs are expected to be launched next week due to the typical Labor Day slowdown. The IPO quiet period expires on Figma, Ambiq Micro, and Avidia Bancorp next week.

In other news, Wall Street jumped sharply on Friday, with the Dow hitting a fresh all-time high as investors welcomed Federal Reserve Chair Jerome Powell's remarks at Jackson Hole. Jerome Powell remarked that a shifting balance of risks "may warrant adjusting our policy stance," signaling a potential willingness to lower the central bank's policy rate if conditions justify it. As a result, the odds of a rate cut in September rose from ~71% to ~93%.

Volatility watch: Bragg Gaming Group Inc. (BRAG), monday.com (MNDY), and VTEX (VTEX) are the most oversold stocks based on their 14-day Relative Strength Index. On the other hand, Avidia (AVBC), QMMM Holdings (QMMM), and Indivior (INDV) are the most overbought stocks based on their 14-day relative strength index.

The editor's note warns about the risks associated with microcap stocks. Companies such as 3M Company, Atmos Energy, Paycom Software, Johnson & Johnson, S&P Global, Skyworks Solutions, Electronic Arts, NextEra Energy, Expedia Group, Goldman Sachs, and eBay will have an ex-dividend next week.