Earnings Rev

• The U.S. corporate earnings season is accelerating, with over 80 S&P 500 companies expected to report their financial results. • Market attention is focused on Alphabet and Intel, whose updates will likely influence the AI trade and broader investor sentiment. • Other key reports are expected from American Express, Philip Morris International, and defense contractor RTX, following strong initial results from major U.S. banks.

• Wall Street is entering a critical phase of the corporate earnings season, with a primary focus on upcoming financial results from tech giants Alphabet and Intel. • Investors are closely monitoring Alphabet's AI spending strategies and overall profit growth to determine if current market enthusiasm for artificial intelligence is sustainable. • The semiconductor sector is experiencing increased volatility as high investor expectations clash with the actual performance of chipmakers.

• Investors are focusing on upcoming earnings reports from Alphabet and Intel, which are expected to significantly influence the performance of the AI-driven trade. • The reports arrive as the U.S. corporate earnings season gains momentum, providing critical updates on the growth and monetization of artificial intelligence. • Simultaneously, markets are monitoring Federal Reserve interest rate expectations, with recent cooler-than-expected consumer and producer price data easing fears of an immediate rate hike.

• Major stock indexes ended mixed on Thursday as Micron Technology's strong quarterly earnings sparked a rally in memory chips, offsetting losses in other mega-cap tech stocks like Apple. • The Bureau of Economic Analysis reported that the Personal Consumption Expenditures (PCE) price index, the Federal Reserve's preferred inflation gauge, rose 4.1% year-over-year in May. • This surge from April's 3.8% increase marks a three-year high, complicating the Federal Reserve's efforts to maintain price stability and manage interest rates.

• Camden Property Trust surpassed analyst expectations for Q1 2026 EPS and revenue, as detailed in its May 10 earnings call transcript. • Despite the strong financial results, the company's stock price declined following the announcement, mirroring broader REIT market pressures. • The outperformance highlights resilient demand in the multifamily housing sector amid economic uncertainties.

• Nvidia posted first-quarter revenue of $28.3 billion, representing a 106% year-over-year increase and surpassing Wall Street consensus forecasts by 8%, driven primarily by sustained demand for AI data center GPUs. • The chipmaker's gross margin expanded to 72.1%, the highest level in five quarters, as production efficiency gains and favorable product mix offset supply chain costs. • Guidance for Q2 revenue of $32-34 billion exceeded analyst estimates, reinforcing investor confidence in the artificial intelligence infrastructure boom and supporting semiconductor sector valuations amid broader market volatility.

Comfort Systems USA shares posted a 15% weekly gain ending March 13, 2026, forming an outside week upside reversal amid market weakness. The industrial firm's performance stands out as major indexes like the S&P 500 fell 0.6% and Nasdaq dropped 0.9% on Friday due to oil-driven volatility. This breakout signals potential in construction and HVAC sectors despite broader economic caution. Investors eye continued strength if support levels hold into next week.