Earnings, Explosions & the Inflation Inflection: Your Week on Wall Street 📈🐋

Nvidia steps up. Trump stirs the pot. Powell watches the PCE print like a hawk

📅 The Setup: Short Week, Big Stakes

Markets are closed Monday for Memorial Day 🇺🇸—but don’t let the long weekend fool you. The rest of the week is locked and loaded with market landmines:

• 👑 $NVDA earnings (a.k.a. the AI crown jewel reports)

• 🔥 Trump’s tariff circus, round three

• 💸 Friday’s PCE inflation data—Jerome Powell’s emotional support stat

Stocks just logged their worst week in months thanks to rising yields, fiscal freakouts, and trade war déjà vu. If you thought the drama was over, guess again.

📉 Macro Mess: Yields, Tariffs & That $4T Tax Bomb

Last week, the market got body-slammed by:

• 🧾 Trump’s tax bill pushing the deficit past “YOLO” territory

• 📲 A threatened 25% tariff on Apple iPhones not made in the U.S.

• 🇪🇺 A 50% tariff warning on EU goods starting June 1

The result?
S&P 500: -2.6%
Nasdaq: -2.4%
Dow: -2.4%

Meanwhile, the 30-year Treasury yield stayed stubbornly above 5%—the highest since flip phones were hot. The 10-year yield? 4.6% and climbing.

Bond traders are basically screaming: “STOP SPENDING!”

🤖 All Eyes on $NVDA: Can Jensen Save the Market?

Wednesday after the close, Nvidia ($NVDA) steps into the earnings arena. Expectations are nuclear:

• 💰 EPS: $0.88

• 📈 Revenue: $43.3B

• Last year? Just $26B. No biggie.

But here’s the twist—despite fueling nearly 17% of S&P 500 gains since ChatGPT launched, Nvidia is flat this year. Blame it on:

• 🤖 AI bubble fears

• 🔧 Chip supply noise

• 🇨🇳 Tariff anxiety

Wall Street needs this print to be perfect. Anything less and the market might just short-circuit.

📊 Inflation Watch: It’s PCE Week, Baby

Friday brings the Fed’s fave inflation metric: Core PCE.

📉 Expectations:

• Core PCE (YoY): 2.5%

• Core PCE (MoM): 0.1%

It’s not quite “mission accomplished” for Powell, but a soft number could cool the bond tantrum and give stocks some breathing room.

BofA says June data will show the first real signs of tariff-induced inflation—because yes, even memes cost more when there's a trade war.

🧠 Wall Street’s Vibe Check

Despite last week’s carnage, earnings season hasn’t been all bad:

• 💪 S&P 500 earnings growth: +12.9% YoY

• 🧮 Only 8 companies pulled guidance (vs. 185 in Q1 2020)

That’s helped big names like Morgan Stanley’s Mike Wilson stick to their S&P 6,500 target. Because if you can’t beat inflation, might as well inflate valuations too.

🔍 T&G Watchlist: Plays to Watch This Week

• $NVDA – King of AI. Wednesday will be electric ⚡

• $AAPL – Tariff target. If Tim Cook doesn’t build a factory in Boise, watch out 🍏

• $SPY / $QQQ – Support levels in play: 5,750 and 18,600

• $TYX / $TNX – Yields still in charge 📈

• $COST / $CRM / $OKTA – Earnings test for consumer & cloud 📦☁️

• $BTC – Will crypto dodge the risk-off wreckage?

🗓️ Week-at-a-Glance: What’s Coming Up

Monday – May 27
🔕 Markets closed for Memorial Day

Tuesday – May 28
📊 Data: FHFA House Prices (Mar), S&P/Case-Shiller Home Prices, Consumer Confidence, Durable Goods
💼 Earnings: AutoZone ($AZO), Box ($BOX), Okta ($OKTA)

Wednesday – May 29
📊 Data: MBA Mortgage Apps, Richmond Fed, FOMC Minutes
💼 Earnings: Nvidia ($NVDA), Salesforce ($CRM), Macy’s ($M), e.l.f. Beauty ($ELF), C3.AI ($AI), Dick’s ($DKS)

Thursday – May 30
📊 Data: GDP Q1 2nd revision, Jobless Claims, Pending Home Sales
💼 Earnings: Costco ($COST), Best Buy ($BBY), Dell ($DELL), Ulta ($ULTA), Marvell ($MRVL), Foot Locker ($FL)

Friday – May 31
📊 Data: PCE Inflation (April), Core PCE, UMich Sentiment Final
💼 Earnings: Canopy Growth ($CGC)

🔮 T&G’s Take

You’ve got Nvidia’s earnings, Trump’s Twitter finger, and inflation data in a four-day trading week?

Grab popcorn, not just BBQ.

This week will set the tone for the rest of Q2. One bad report or one reckless tariff tweet and volatility is back on the table.

📢 Don’t sleep on this one. The macro is loud, and the micro’s about to scream.

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🔥 Are you long $NVDA into earnings? Betting on more tariffs? Let us know in the comments 👇