AI Leader Nvidia (NVDA) Set to Report Q3 Earnings.Long-Delayed September Jobs Report Finally Set for Release【The week ahead】

TradingKey - U.S. stocks ended Friday mixed, as concerns over the artificial intelligence (AI) trade intensified.

This week, all eyes turn to Nvidia (NVDA), which is set to report its third-quarter earnings and will be closely watched by investors for insights into the sustainability of the AI-driven market rally.

Meanwhile, Microsoft’s annual Ignite 2025 conference is scheduled for November 18–21, expected to draw more than 17,000 IT professionals and enterprise clients.

Additionally, the U.S. Bureau of Labor Statistics will release the delayed September nonfarm payrolls report on November 20, offering investors a critical data point for assessing the Federal Reserve’s monetary policy path.

Preview of major events

AI Chip Dominator Nvidia Faces Its Next Crucial Test

Nvidia is set to report its fiscal third-quarter 2026 earnings after the close on November 19, with results expected to once again beat expectations. Analysts forecast adjusted earnings per share of $1.26. The company is also projected to post revenue of $55.28 billion for the quarter, a year-over-year increase of more than 55%.

Analysts at Jefferies and Wedbush have both indicated in recent reports that they expect the AI giant to deliver an "earnings beat and raise," meaning it will surpass current analyst estimates and potentially raise its forward-looking guidance.

U.S. September Jobs Report to Be Released Thursday as Wall Street Braces for Impact

The U.S. Labor Department is set to release the September nonfarm payrolls report on Thursday—nearly a month and a half after its original scheduled date. Despite the delay, the data remains highly significant for financial markets, marking the likely end of an official data drought caused by the 43-day federal government shutdown. Investors will scrutinize the report for fresh clues on the Federal Reserve’s monetary policy path.

Priya Misra, Head of Global Fixed Income at J.P. Morgan Asset Management, said that as delayed economic data begins to flow again, the labor market may show greater signs of stability. “That could lead markets to scale back expectations for a December rate cut,” she added, warning that volatility may rise as a result.

Fed to Release Monetary Policy Minutes as Officials Prepare for Speaking Blitz

On November 20, the Federal Reserve will release the minutes from its October FOMC meeting, which are expected to reflect a more hawkish tone on the outlook for rate cuts.

Currently, Boston Fed President Susan Collins has said the bar for further easing is "higher," while San Francisco Fed President Mary Daly has expressed an "open mind" about the December decision.

This shift in rhetoric has already pushed market expectations for a December rate cut below 50%. According to Bloomberg's Nick Timiraos, often referred to as the "Fed whisperer," the central bank may face two choices at the upcoming meeting: holding pat or cutting rates while signaling that the easing cycle is nearing its end.

Selected Economic Data

Monday: U.S. November New York Fed Manufacturing Index

Wednesday: Eurozone October HICP Year-over-Year (Unadjusted Final)

Thursday: U.S. September Nonfarm Payrolls

This week's featured events

Monday: ECB Chief Economist Philip Lane speaks

Wednesday: Richmond Fed President Thomas Barkin, FOMC voter, delivers remarks

Thursday: Federal Reserve releases monetary policy meeting minutes

Corporate Earnings

Tuesday: PDD Holdings (PDD.O), Futu Holdings (FUTU.O), Xiaomi Group (01810.HK)

Wednesday: Nvidia (NVDA.O), Kuaishou (01024.HK)

Thursday: Walmart (WMT.N)