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Retail earnings, Nvidia results: What to watch this week

As many Americans gear up for Thanksgiving, investors should be gearing up for another week of earnings. This week investors will hear from Best Buy (BBY), Deere & Co (DE), Urban Outfitters (URBN), Kohl's (KSS), Dick's Sporting Goods (DKS), and more. Most notably, Nvidia (NVDA) will report its third-quarter earnings on Tuesday, which have all eyes on it as it could be an indicator for Big Tech, AI, and the broader market.

Yahoo Finance Reporter Josh Schafer joins the Live show to break down the latest numbers for these companies and give insight into what investors should be paying attention to.

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Video transcript

RACHELLE AKUFFO: Retail results are far from over. We heard from the big box stores last week. Now we'll get some insight into some smaller specialty retailers. Here with what we can expect is Yahoo Finance reporter Josh Schafer. So Josh, what's on your radar for this week?

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JOSH SCHAFER: Yeah, Rachelle, we got a holiday-shortened week, of course, with Thanksgiving on Thursday and half a market day on Friday. But as you can see here, quite a bit to go through before we get to that Turkey. First starting with Tuesday really is going to be the big day of earnings this week. You've got Best Buy, Dick's Sporting Goods, Lowe's, and Nvidia is going to be after the bell.

But let's focus on retail first, Rachelle. And I want to take a look at some of the stocks here on the Wi-Fi interactive that we've been watching in the retail space. So what we have here is a five-day look at retail and just stocks that gain the most. So you can see some of the big winners from last week. Gap, up almost 40%. Macy's also up almost 40%.

And the reason we've seen these companies take these big jump up in the last week after they reported was really a lot on margins. It was not necessarily about these companies having blowout sales. We heard a lot about demand from companies like Walmart maybe not being as strong as one would hope. But it's been a story of margins.

Can companies get margins back into a place that they're comfortable and a story of inventory? So that's what we're focusing on this week when we think about some of the companies we're going to hear from like a Dick's Sporting Goods. You remember last quarter, Dick's, they warned about retail crime. They didn't have good margins last quarter.

Big jump down for the stock there. Will that come up in the call tomorrow? Something we're looking for. And then you take a look at Best Buy. Best Buy, the company obviously sells consumer electronics. They've been struggling a little bit with demand in that consumer electronics space because it's discretionary. What do they say about demand tomorrow is one thing I'm looking for.

And then just a friendly reminder too, of course, when we think about these companies and you think about how these stocks move, take a look at Macy's. You saw that big jump. Year-to-date, it's down 28%. So be thinking about how these companies' stocks have performed coming into the report. And that might dictate what we see as well because we know some of these beaten down stocks have been where people are buying over the last week.

RACHELLE AKUFFO: Yeah. That context is going to be important, especially as we watch for the stock moves after those earnings reports. Now, of course, we'll also hear from Nvidia this week. How important are these results?

JOSH SCHAFER: I mean, Rachelle, you really can't play up how-- you can't overplay how big this could be for the market overall. We take a look at the Nvidia chart this year, obviously, the stock has been ripping. 240% as we've really grabbed hold of that AI narrative. And you see these little blips or these big blips that we've seen, right, these big bumps up in May, big bump up recently.

Where we went sort of sideways here and a little bit up was also when the market went sideways in a little bit up. Nvidia has really sort of driven the stock market this year. I'll show you the NASDAQ just to give you an idea of what I was talking about there if I can get it up. And maybe I can't. So that's OK. But overall, when you take a look at just at how the market has reacted this year, it's really followed Nvidia's case.

You see the big jump up in May. You see it go relatively flat as Nvidia and the Mag7 went flat. And then Nvidia has been closing in near an all-time high. So as Nvidia has moved as those Magnificent Seven stocks have moved, the stock market has really moved. So we're looking to see if they meet the high expectations come Tuesday.