With the market closed yesterday, lots of investors are going to be sleeping 💤 on this short trading week.
We know better though…
There are always potential opportunities out there if you know where to look!
Speaking of which, let’s talk about some of the big events happening…
We have a major Goldman Sachs tech conference running all week long.
Not exciting enough for you?
How about this…
Nvidia and Microsoft will both be speaking!
As far as the market is concerned these are still the top dogs 🐕🦺 in the AI sector….So anytime they speak is a pretty big deal.
The problem?
Except for Nvidia, no major tech player has seen a substantial financial benefit from artificial intelligence and machine learning yet.
It will be interesting to see if we will get some clarification this week of when they expect that to change!
Speaking of AI, we have the company C3.ai reporting earnings on Wednesday after market close…
The company has a string of consecutive beats, both from the revenue and EPS side of things.
Given this, I expect we may see a similar trend this week.
Why does this matter?
With the earnings game, it’s all about expectations…
If a company performs better than expect, the stock tends to rally and vice versa.
There are no certainties, but we may see some bullish momentum assuming that the market is even interested in hearing about AI at the moment.
Hopefully, this week’s conference can boost sentiment for the sector…
Next up, we have Kroger reporting earnings on Friday.
If you’re from California you may be confused…
There’s not a single one of these grocery stores around!
They’re actually hidden in plain sight, operating under the brand name “Ralphs”.
With around 2750 stores in total, Kroger is the third largest supermarket retailer in the United States!
While it’s not necessarily the most exciting stock of the week, it will give us some nice insights into where the economy is currently at…
Groceries are one of the last items that consumers tend to cut back on, so poor earnings from Kroger may be an indication that low income Americans are really struggling!
We went over an interesting study 🔬 regarding food stamps in our latest video, so make sure to check that out…
That’s all for now!
Until Next Time,
-Damian