Nvidia Earnings, PCE Inflation, and GDP: Key Data Points to Watch This Week

Nvidia Earnings: A Key Indicator for AI and Tech Sector

* Nvidia Corp., a leader in artificial intelligence (AI) hardware, is set to release its quarterly earnings report on Wednesday. * Analysts expect the company to report a 109% year-over-year increase in earnings and a 99% surge in revenue, indicating strong growth in the AI and tech sectors.

PCE Inflation: A Measure of Consumer Spending and Inflation

* The Personal Consumption Expenditures (PCE) Price Index, a key inflation measure closely monitored by the Federal Reserve, will be released on Friday. * This data will provide insights into consumer spending patterns and shed light on the current state of inflation in the U.S. economy.

GDP: A Gauge of Economic Growth

* The Bureau of Economic Analysis will release its estimate of Gross Domestic Product (GDP) growth for the fourth quarter of 2023 on Thursday. * GDP measures the total value of goods and services produced within a country, serving as a comprehensive indicator of economic health.

Market Expectations and Analysis

* The market is eagerly anticipating Nvidia's earnings report, as it is seen as a bellwether for the AI and tech sectors. * Analysts believe a strong performance from Nvidia could boost investor confidence in the tech industry. * The PCE inflation data will be closely watched by the Federal Reserve, which is tasked with controlling inflation. * A higher-than-expected inflation reading could put pressure on the Fed to continue raising interest rates. * GDP growth is expected to remain positive, but the market will be looking for any signs of a slowdown in economic activity.