The US stock markets will likely remain volatile in the coming weeks as more investors focus on the crypto market. It is undeniable that investors now use cryptocurrencies as indicators to measure the risk appetite in the trading space.
BTC dropped by around 30% at some point in the past week following China’s attack on the crypto regulations. Moreover, the country prohibited BTC trading and mining on Friday. Keep the mind that the cryptocurrency market was already shaking after the US tax regulations earlier that week.
For now, it is not clear how the stock market will respond if the crypto losses continue. However, analysts warn investors to be cautious with their every move due to the market’s uncertainty.
Besides the risks related to the current crypto market nature, here are the stocks that you may have to watch as an investor in the upcoming weeks.
NVIDIA Corporation is expected to report the Q1 profits on May 26, which will be on Wednesday, after closing the market. Industry players expect the semiconductor giant to yield a $3.28 EPS on $5.39 billion on revenues. NVIDIA share lost momentum over the last three months as the chipmaker struggled to meet the increased demand. After an 88% surge in the past year, On Friday, its market locked at $599.67.
Salesforce.com will announce its quarterly profits on May 27. The firm sells cloud-based services and enterprise software to corporate consumers to manage their customer relationships. Analysts expect the software developer to announce $0.88 profits per share and revenue of $5.89 billion.
Keep in mind that the firm saddened investors after failing to meet experts’ sales prediction in February. However, the company showed improved performance, indicating increased software users after the slowdowns led by the COVID pandemic.
The Salesforce.com market closed at $222.58 on Friday.
Best Buy will also announce its quarterly profits on Thursday. Analysts expect the retailer to report revenue totaling $10.32 billion and $1.36 earnings in every share. The Best Buy markets continue to enjoy benefits following the increased demand for household electronics as most Americans adopt the work-from-home atmosphere. The markets closed at $114.93 on Friday.