Tech & Markets Collide: Inflation Data Looms, Nvidia Bets High, and Trade Wars Rattle Nerves

Brace for impact—this week’s inflation numbers could send shockwaves through tech valuations. All eyes on whether the Fed’s ’transitory’ narrative holds water.

Nvidia’s earnings drop Tuesday—a make-or-break moment for AI hype trains. Will they beat expectations or join the ’overpromised, underdelivered’ club?

Trade war tensions simmering again. Because nothing says ’global economy’ like politicians playing chicken with supply chains.

Bonus jab: Wall Street’s already pricing in ’soft landing’ fantasies. Spoiler—they’re still using 2021 playbooks.

TLDR

• Nvidia posts quarterly earnings Wednesday with analysts forecasting $43.3 billion in revenue versus $26 billion year-over-year
• President Trump announces potential 25% tariffs on Apple products manufactured outside America plus 50% EU duties
• April PCE inflation data releases Friday, core reading expected to decline from 2.6% to 2.5%
• Major earnings reports from Salesforce, Dell, Costco, and AutoZone scheduled throughout the week
• Multiple Federal Reserve officials including Waller and Williams set to deliver public remarks

Financial markets prepare for a pivotal week as Nvidia delivers quarterly earnings and President Trump announces fresh tariff measures. The semiconductor leader reports results Wednesday evening, with Wall Street projecting revenue of $43.3 billion against $26 billion from the prior year period.

Nvidia stock has recovered to $3 trillion market capitalization after climbing 50% from April lows. The chip manufacturer previously delivered 78% revenue expansion and confirmed a partnership to provide semiconductors for Saudi AI company Humain.

President Trump’s Friday tariff announcements triggered weekly market losses across major indices. The administration proposed 25% duties on Apple products manufactured outside US borders. TRUMP also indicated plans to increase European Union tariffs to 50% beginning in June.

🚨 BREAKING: Trump announces a 50% tariff on the European Union starting on 1st June

Here we go again!! pic.twitter.com/CQqJIzwB68

— Trader Edge (@Pro_Trader_Edge) May 23, 2025

These trade policy shifts drove Treasury yields upward and pressured equity markets. The Nasdaq Composite and Dow Jones each declined approximately 2.4% over five trading days. The S&P 500 posted a 2.6% weekly loss.

Corporate Earnings Season Continues Multiple technology firms join Nvidia in reporting quarterly performance this week. Salesforce announces results Wednesday after recording 8% revenue growth powered by its Agentforce artificial intelligence platform. The cloud computing company provided conservative guidance despite analysts highlighting expansion opportunities.

Dell Technologies shares results Thursday following 37% server and networking revenue growth last quarter. The hardware manufacturer has capitalized on artificial intelligence infrastructure demand. Morgan Stanley analysts increased their price target for Dell based on accelerating server sales momentum.

HP delivers quarterly data Wednesday as investors monitor personal computer market trends. Semiconductor company Marvell Technology also reports Thursday results.

Retail Sector Performance Updates Costco Wholesale announces earnings Thursday after April comparable sales increased 7%. Industry analysts linked purchasing acceleration to consumer concerns about incoming tariff policies. The warehouse retailer previously reported 9% revenue growth supported by membership fee increases.

AutoZone releases results Tuesday following a Bank of America Securities rating upgrade. Analysts predict higher vehicle costs from tariff implementation could boost demand for automotive repair services among budget-conscious consumers.

Dick’s Sporting Goods reports Wednesday after completing its acquisition of athletic retailer Foot Locker. Chinese electric vehicle manufacturer Li Auto announces Thursday results as the company competes with Tesla in that market.

Economic Data and Federal Reserve Policy Friday delivers the Personal Consumption Expenditures Price Index, representing the Federal Reserve’s primary inflation benchmark. Economists anticipate annual Core PCE will decrease to 2.5% in April from the previous 2.6% reading. Month-over-month core PCE is projected at 0.1% compared to the prior 0% figure.

Federal Reserve policymakers have emphasized monitoring price trends following tariff policy implementations. Consumer sentiment surveys indicate growing concern about tariff-driven price increases among households.

The Federal Open Market Committee releases May meeting minutes Wednesday. These documents will reveal committee member discussions regarding interest rate policy and economic conditions.

Federal Reserve Communication Schedule Several Fed officials deliver public speeches this week including Governor Christopher Waller and New York Fed President John Williams. Minneapolis Fed President Neel Kashkari, San Francisco Fed President Mary Daly, and Chicago Fed President Austan Goolsbee are also scheduled speakers.

Market participants will analyze their remarks for monetary policy direction signals. The central bank continues assessing economic indicators as officials weigh future rate decisions.

Revised first-quarter gross domestic product data arrives Thursday after initial estimates showed economic contraction during early 2025. Additional economic releases include consumer confidence measurements, durable goods orders, and housing price indices.

Markets observe Memorial Day closure Monday before resuming Tuesday with durable goods and consumer confidence data. The economic calendar extends through Friday with multiple data points and corporate earnings releases.