U.S. stocks watchlist centers on Nvidia earnings and retail strength

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Stocks watchlist: Nvidia, retail

Highlights

Nvidia's post-close earnings must beat expectations and raise guidance to sustain momentum after shares cooled from last week's record close near $236.
Target same-store sales rose 5.6% versus 2.4% consensus and lifted annual net sales growth guidance to 4% from 2%, while Lowe's reaffirmed full-year targets.
UnitedHealth shares extended rebound after Mizuho raised its price target to $440 from $410, and TJX Companies outperformed with 6% same-store sales growth.

Market setup and key company catalysts

As reported by CNBC, Wednesday's market focus is on Nvidia's earnings release after the close, with expectations high after the stock cooled from last Thursday's record close near $236. The note says a beat and higher guidance are the minimum needed to support a post-earnings rally, while warning that the first stock move after results may be misleading before investors hear the conference call's outlook on demand and guidance.

The market commentary also points to skepticism on Wall Street over whether Nvidia can sustain its run as Amazon and Google push their own in-house chips. At the same time, Alphabet's Google is drawing attention after a series of artificial intelligence announcements, including deeper AI integration into search and new developer tools that Melius Research's Ben Reitzes says could become an entry point into enterprise customers.

In the broader market, stock futures are higher as traders weigh Trump's comments that the U.S. would end the Iran war "very quickly." The note links those remarks to a familiar pattern in which oil and interest rates ease modestly and equity futures move higher.

Retail, housing and healthcare names add support

Outside big technology, the watchlist highlights strong quarterly updates from several consumer-facing companies. Target posts a quarterly beat, with same-store sales up 5.6% against a 2.4% FactSet consensus and net sales growth guidance for the year raised to 4% from 2%, while Lowe's reports a strong quarter and reaffirms full-year guidance despite a tough housing market.

TJX Companies also stands out after reporting same-store sales growth of 6%, above the 4.1% consensus, sending the shares higher as bargain-focused shoppers keep supporting the T.J. Maxx and Marshalls owner. The note says higher fuel costs slightly limit the increase in the full-year profit outlook, but management is seen as historically conservative.

Elsewhere, UnitedHealth extends its rebound after Mizuho raises its price target to $440 from $410, while William Blair starts coverage of Casey's General Stores with a buy rating. The commentary is more cautious on enterprise software, noting Baird raised its MongoDB price target to $335 from $260 but kept a hold rating.

In our earlier coverage of premarket movers tied to earnings and macro drivers, we noted how elevated Treasury yields were shaping risk appetite after a weak stretch for equities. We also highlighted upbeat updates from Target and fresh AI announcements from Google, alongside continued attention on the run-up to Nvidia’s results as a key near-term catalyst for the broader market.

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