This week's big schedule at a glance

• “The most important stock on Earth” - Nvidia is about to release earnings!

Known as “the most important stock on Earth”, Nvidia will announce the results for the first quarter of fiscal year 2025 after the market on May 22 EST.

Since this year, Nvidia's stock price has continued to soar, with a cumulative increase of 90% during the year. However, since late March, Nvidia's stock price has been fluctuating between 850 and 950 US dollars, which inevitably causes investors to worry. If this performance only meets expectations, it may cause the stock price to fall.

The market generally expects Nvidia Q1 to achieve revenue of 24.487 billion US dollars, an increase of 240.47% year over year; earnings per share of 5.18 US dollars, an increase of 532.28% year over year. This means that the company will achieve record revenue and profit for the fourth consecutive quarter.

• A number of Federal Reserve officials will speak out and pay attention to economic prospects and policy path statements

This week, a number of Federal Reserve officials will deliver regular speeches, focusing on the latest statements on economic prospects and policy paths, including governors Barr and Waller, as well as local Federal Reserve Chairs Williams and Bostick. Chairman Powell was scheduled to deliver a speech at the Georgetown University Law School graduation ceremony on Monday, but he changed his attendance to the video because he was positive for COVID-19.

If more Federal Reserve officials continue to insist that interest rates will be “higher and longer,” the dollar may recover some of its recent losses, and US bond yields may rise slightly. As far as US stocks are concerned, if there is no “pigeon” in the views of the Federal Reserve officials, this may hurt Wall Street's confidence that the three major US stock indexes will continue to reach record highs.

• The earnings season continues, and Pinduoduo, Kuaishou, and Xiaomi are about to be listed

A number of popular Chinese securities companies will also announce their results, including Pinduoduo, Ideal Auto, Xiaopeng Auto, NetEase, and Station B. In terms of Hong Kong stocks, companies such as Kuaishou, Xiaomi Group, and Lenovo Group will also release financial reports this week.

Regarding Pinduoduo's upcoming financial report for the first quarter of 2024, the market generally predicts that it will achieve revenue of 76.56 billion yuan in the first quarter, an increase of 103.42% over the previous year; earnings per share are expected to be 10.41 yuan, an increase of 87.61% over the previous year. A total of 12 analysts recently rated the stock, with an average target price of $182.78, which means that the stock still has room to rise by about 27.5% compared to the current price.

• Japan's core CPI data for April will be released, and the yen may face downside risks again

Japan will release core CPI data for April. The year-on-year growth rate of its core CPI for March has declined from 2.8% to 2.6%, and the market expects it to continue to slow to 2.2%. If the inflation rate is too close to 2%, and Japan's domestic GDP continues to shrink, this will make investors think that it will be difficult for the Bank of Japan to raise interest rates again in the short term, and the yen may once again face downside risks. Investors expect the Bank of Japan to raise interest rates by at least another 20 basis points in 2024, but not until September.

According to preliminary data released earlier, the country's economic contraction in the first quarter of 2024 exceeded expectations, indicating that inflation caused by the weak yen is hurting consumer demand. Investors are expected to pay attention to the Ministry of Finance's auctions of 10-year inflation-indexed Japanese treasury bonds and 40-year Japanese treasury bonds, considering concerns that the Bank of Japan may raise interest rates further and may reduce bond purchases.

• The Federal Reserve will release the minutes of the latest meeting, which may reveal more “substantial” policy paths

This week, the Federal Reserve will release the minutes of the last interest rate meeting. Investors will scrutinize policymakers' discussions on interest rate prospects. The focus will be on whether policymakers prefer to cut interest rates once in 2024 or maintain their judgment two or three times. The minutes of the meeting may reveal more “substantial” about the Fed's subsequent policy path. According to CME's US Federal Reserve observation tool, market participants expect that the Fed will not cut interest rates at the next two meetings, and believe that the probability of cutting interest rates in September is basically 50%.

• This week's key performance calendar

[Prize] Check out the weekly key performance calendar in one picture (5.20-5.24)

Monday May 20

Keywords: China's May LPR, Ideal Auto earnings report, Powell's video speech

On Monday, in terms of economic data, China's May market quoted interest rate (LPR) for loans with a term of one year and five years or more will be announced.

In terms of financial events, Federal Reserve Chairman Powell delivered a video speech at the Georgetown University Law School graduation ceremony, Atlanta Federal Reserve Chairman Bostic delivered a welcome speech at an event, and Federal Reserve Governor Barr delivered a speech.

In terms of financial reports,$Li Auto (LI.US)$The latest results will be disclosed;$Zoom Video Communications (ZM.US)$Earnings will be released after the market.

Tuesday, May 21st

Keywords: Xiaopeng Motors earnings report, speeches by several Federal Reserve officials

On Tuesday, in terms of financial events, US Treasury Secretary Yellen & ECB President Lagarde & German Finance Minister Lindner delivered a speech; Richmond Federal Reserve Chairman Barkin delivered a welcome speech at an event; Federal Reserve Governor Waller delivered a speech on the US economy; New York Federal Reserve Chairman Williams delivered an opening address at an event; Atlanta Federal Reserve Chairman Bostic delivered a welcome speech at an event; and Federal Reserve Governor Barr attended a fireside conversation.

In terms of financial reports,$XPeng (XPEV.US)$A financial report will be issued.

Wednesday May 22nd

Keywords: Nvidia/Pinduoduo/Kuaishou financial report, total annualization of existing home sales in the US

On Wednesday, in terms of economic data, data such as the total number of existing home sales in the US in April, US API crude oil inventories for the week, and US EIA crude oil inventories for the week will be released today.

In terms of financial events, Bostic & Mester & Collins participated in a panel discussion on “Central Banks in the Post-Pandemic Financial System”, and Chicago Federal Reserve Chairman Goulsby delivered the opening address at an event.

In terms of financial reports, Hong Kong stocks$KUAISHOU-W (01024.HK)$,$KINGSOFT (03888.HK)$Financial reports will be issued;$PDD Holdings (PDD.US)$Financial reports will be released before the market;$NVIDIA (NVDA.US)$,$Snowflake (SNOW.US)$Earnings will be released after the market.

Thursday May 23

Keywords: Xiaomi/NetEase/Station B earnings report, minutes of the Federal Reserve's monetary policy meeting

On Thursday, in terms of economic data, data such as the Eurozone's preliminary manufacturing/service PMI for May, the number of US jobless claims for the week up to May 18, the US preliminary S&P global manufacturing/services PMI for May, and the total annualized value of new home sales in the US for April will be released.

In terms of economic events, the Federal Reserve will publish the minutes of the monetary policy meeting.

In terms of financial reports,$XIAOMI-W (01810.HK)$,$LENOVO GROUP (00992.HK)$,$NetEase (NTES.US)$,$KE Holdings (BEKE.US)$,$Bilibili (BILI.US)$Results will be announced.

In terms of IPOs, US stocks$Key Mining (KMCM.US)$,$Bowhead Specialty Holdings (BOW.US)$Launched today.

Friday May 24

Keywords：Japan core CPI annual rate

On Friday, in terms of economic data, Japan's core CPI annual rate data for April and the final value of the US University of Michigan Consumer Confidence Index for May will be announced.

In terms of financial events, in 2024, FOMC voting committee and Atlanta Federal Reserve Chairman Bostic participated in a question-and-answer event for students, and Federal Reserve Governor Waller delivered a speech.

In terms of financial reports,$Booz Allen Hamilton Holding Corp (BAH.US)$,$Buckle Inc (BKE.US)$Results will be announced.

In terms of IPOs, Hong Kong stocks$SUNHO BIO-B (02898.HK)$Listed today; US stocks$Harden Technologies (HAHA.US)$Launched today.

Good luck with your investments in the new week!

Editor/jayden