What to watch in markets this week beyond the usual headlines

This week isn’t packed with blockbuster events, but a few key reports could shift how investors see big tech and the broader economy. Nvidia’s results on Wednesday will likely steal the spotlight, as the company’s massive lead in AI chips makes it a test case for whether sky-high AI investments are really paying off. If Nvidia’s growth slows or costs rise, it could shake confidence in the whole AI boom. Meanwhile, Alphabet’s two-day developer conference will try to prove its AI tools can keep up with rivals like Microsoft—another sign of whether the tech arms race is sustainable.Retail stocks are getting extra attention this week, with Home Depot, Target, Lowe’s, and Walmart all reporting. These aren’t just random companies—they’re like economic mood rings. Home Depot’s sales show if people are splurging on home projects, while Walmart’s numbers reveal if shoppers are cutting back due to rising prices. Shipping companies reporting earnings add another layer: if their costs spike because of Middle East tensions, it could mean higher prices for everything from sneakers to smartphones. Two less flashy but still important reports will drop on Thursday. The first is the latest manufacturing data, which gives a real-time snapshot of factory activity. The second is the Federal Reserve’s meeting notes, which could hint at whether interest rates stay high or start dropping. Together, these clues will help investors guess if the economy is cooling off or still running hot.