What to Expect in Markets This Week: Earnings From Disney, CoreWeave, Sony and Cisco; Veterans Day Holiday

With key economic data releases delayed by the government shutdown, this week's market focus will largely center on corporate earnings, featuring AI-centric firms like CoreWeave, Oklo, and Cisco, alongside Applied Materials and Walt Disney. While bond markets and federal offices are closed Tuesday for Veterans Day, stock markets remain open, with investors also anticipating AMD's analyst day for AI roadmap details and the NFIB small business optimism survey.

Analysis

The market's focus this week shifts predominantly to corporate earnings reports, given the delay of key economic data such as CPI, retail sales, and jobless claims due to the ongoing government shutdown. While bond markets and federal offices will be closed on Tuesday for Veterans Day, stock markets are scheduled to remain open, ensuring continued trading activity. This environment elevates the significance of company-specific performance and forward guidance.

Artificial intelligence (AI) remains a central theme, with several AI-centric firms reporting earnings or providing updates. CoreWeave (CRWV), whose shares have more than doubled post-IPO, is expected to maintain investor optimism with its deals with Nvidia and Meta, reflected in its 0.7 sentiment score. Cisco (CSCO) will report after nearly doubling its AI sales target, carrying a positive sentiment of 0.6, while nuclear power provider Oklo (OKLO) is anticipated to show growth linked to AI data center electricity needs.

Chipmaker Advanced Micro Devices (AMD) will host an analyst day, where CEO Lisa Su is expected to detail the company's AI roadmap, a key event for the semiconductor sector. Conversely, Applied Materials (AMAT) faces headwinds from restrictions on sales to China, contributing to its negative sentiment of -0.3. Walt Disney (DIS) will report following its ESPN app launch and NFL network acquisition plans, with a mildly positive sentiment of 0.2.

Beyond earnings, the NFIB small business optimism survey for October will offer insights into economic pressures on small firms. The monthly federal budget report is also expected to shed light on tariff revenues, providing a fiscal policy context amidst the government shutdown's impact on data releases.

Key Decisions for Investors

• Investors should closely monitor earnings calls and guidance from AI-centric companies like CoreWeave, Cisco, and Oklo, as well as AMD's analyst day, for insights into the sector's growth trajectory and potential investment opportunities.
• Assess the implications of China sales restrictions on semiconductor equipment suppliers such as Applied Materials, considering potential impacts on revenue and market share.
• Given the delay in key economic indicators, pay heightened attention to corporate commentary on consumer spending and business sentiment, especially from the NFIB small business optimism survey, to gauge broader economic health.