This week's macro outlook: Jensen Huang to appear at Nvidia GTC, Fed enters blackout period, Meta and Tesla earnings in market spotlight

BlockBeats news, October 19 - Last week, US tech stocks experienced a significant pullback, with the Nasdaq falling more than 4% for the week. While digesting stronger-than-expected inflation data, the market is re-evaluating the "unstoppable economy" narrative. The Federal Reserve has entered its blackout period ahead of the October 28 FOMC meeting, with no officials speaking. This week, pricing will be more influenced by tech giants' earnings reports and economic data: Meta and Tesla will report earnings in concentration, while the semiconductor and memory sectors also enter their earnings disclosure window. On Friday, the preliminary PMI readings for Europe and the US, along with the final University of Michigan confidence reading, will test the rate hike path. On the geopolitical front, Trump has suspended comprehensive sanctions on Russia and tariff enforcement, setting an approximately 60-day assessment window. Disruptions to shipping in the Strait of Hormuz and risks of escalation in the Middle East continue to support oil price premiums. Key events at a glance:

Tuesday:

NVIDIA GTC Berlin conference opens (through the 22nd).

Wednesday:

US API and EIA crude oil inventories for the week ending October 16;

Beijing time evening, NVIDIA CEO Jensen Huang delivers keynote speech at GTC Berlin;

US stocks enter a super earnings day, with Meta, Tesla, IBM, and Lam Research reporting after the bell.

Thursday:

US initial jobless claims for the week ending October 17;

US pre-market, Nokia reports earnings; after the bell, Western Digital and MaxLinear report earnings.

Friday:

US October S&P Global preliminary manufacturing and services PMI;

US October University of Michigan consumer sentiment final reading and one-year inflation expectations final reading;

Japan September CPI, Japan October preliminary composite/manufacturing/services PMI, which the market will use to gauge price temperature ahead of the Bank of Japan's October 30 policy decision.