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Nvidia and Walmart earnings may decide Wall Street direction as AI cheers and inflation tests consumers
Business
Published on 16 May 2026
Only one-fifth of S&P 500 stocks led the surge
Wall Street is coming off another leg higher, but investors say next week’s earnings could test whether the rally is broad or fragile. Nvidia reports Wednesday, with its AI-driven surge watched as a read on data-center demand and whether rivals are eroding its lead. On Thursday, Walmart and other retailers including Home Depot, Target and TJX will reveal how inflation-pressured consumers are coping, after rising energy costs and hot price data. Analysts call retail resilience the key.
- S&P 500 is up about 9% in 2026 after an 18% rebound since March 30
- Roughly 20% of S&P 500 companies have outperformed since the March 30 low
- Nvidia shares are up over 40% since the March low
- Semiconductor index (Philadelphia SE) is up about 70% as AI chip demand accelerates
- Gasoline prices topped $4.50 a gallon for the first time in nearly four years
- Retail earnings will be closely watched for signs of consumer resilience amid inflation
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times