S&P 500, Nasdaq, Dow Brace for Earnings Storm: Nvidia, Home Depot and Salesforce in Focus

Major Earnings to Watch on Monday

This week kicks off with earnings reports from several key companies, with a spotlight on Domino’s Pizza (DPZ), expected to post earnings of $4.91 per share, and Owens Corning (OC), estimated at $2.91. Energy players like Westlake (WLK) and Coterra Energy (CTRA) will also reveal results, offering insights into the broader commodities market.

After the close, the focus shifts to Zoom Communications (ZM), projected at $1.30 per share, and Diamondback Energy (FANG), expected to announce $3.35. Cleveland-Cliffs (CLF) and Beyond (BYON) will also be under scrutiny, particularly for sectors tied to industrials and plant-based food trends.

Tuesday’s Spotlight: Home Depot Earnings

Home Depot (HD) is expected to post $3.03 per share, reflecting a 7.4% YoY increase, with revenue estimates at $39.0 billion (+12.1% YoY). UBS analyst Michael Lasser notes this as a pivotal report, potentially signaling stabilization in the home improvement market. Traders will be keen on management’s outlook, particularly concerning discretionary spending and the impact of mixed weather trends.

Other earnings to watch include American Tower (AMT) with $2.36, Bank of Montreal (BMO) at $1.68, and Elanco Animal Health (ELAN) with $0.15. After the close, First Solar (FSLR) is set to report $4.78, which could influence sentiment in renewable energy stocks.

Wednesday: Nvidia and Salesforce in Focus

All eyes will be on Nvidia (NVDA), expected to post $0.85 per share with revenues of $38.1 billion (+72.5% YoY). This is Nvidia’s first earnings report since China’s DeepSeek announcement, which challenged the cost and efficiency of AI development. BofA analysts call this the “next important test for AI bulls,” with potential volatility expected in the stock.

Salesforce (CRM) is also reporting, with estimates of $2.61 per share and $10.1 billion in revenue. Oppenheimer analyst Brian Schwartz suggests these targets are a “low bar” and believes Salesforce could outperform, driven by its Agentforce AI platform’s positive market reception.

Thursday: Bath & Body Works and Warner Bros. Discovery

Bath & Body Works (BBWI) is projected to announce earnings of $2.04 per share, offering insights into retail sector performance. Investors will also track Warner Bros. Discovery (WBD), amid its ongoing strategic shifts and competitive pressures in the media sector.

Notable reports include American Woodmark (AMWD) with $1.33, Beacon Roofing Supply (BECN) at $1.65, and Norwegian Cruise Line (NCLH) with $0.11, which could influence travel and leisure stocks.

Friday: Industrial and Pharmaceutical Sectors Wrap Up the Week

Friday will feature Chart Industries (GTLS), expected to post a strong $3.11 per share, and ANI Pharmaceuticals (ANIP) at $1.44. The market will also get a read on the natural gas sector through Northwest Natural (NWN), anticipated to report $1.42 per share.

Market Forecast: Short-Term Volatility Expected

This earnings season is likely to introduce volatility, particularly with Nvidia’s performance setting the tone for AI and tech stocks. While the overall sentiment leans cautiously optimistic, any surprises—especially from Home Depot, Nvidia, or Warner Bros. Discovery—could sway broader market trends. Traders should prepare for sharp moves, focusing on earnings beats or misses and forward guidance.

More Information in our Economic Calendar.