Next week's major schedule: The most important earnings reports and data are coming.

Next week's major schedule: The most important earnings reports and data are coming.

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Overview of major financial events for the week of November 17 - November 23, all times in Beijing Time:

Key Focus for Next Week: Financial results from major companies such as Nvidia, Baidu, Xiaomi, Pinduoduo, etc. The US government restarts, and economic data such as nonfarm payrolls will be released. As minutes from the October FOMC meeting are about to be published, views inside the Federal Reserve regarding rate cuts will become clearer.

Additionally, Japan's Q3 GDP data and the latest PMI data from Europe and the US will be published. Japan's Ministry of Finance will auction 800 billion yen in 20-year government bonds. The Microsoft Ignite 2025 tech conference, Dubai Airshow, and several industry conferences and exhibitions in photovoltaics, semiconductors, etc. in China will take place.

Financial Reports: Nvidia, Baidu, Xiaomi, and Pinduoduo take the stage one after another

  • Nvidia

After US market close on November 19 (Wednesday), which is 05:20 Beijing Time on November 20, Nvidia will release its Q3 FY2025 financial report, viewed as a critical moment determining the future of AI stocks.

Daniel O’Regan, Managing Director of Equity Trading at Mizuho Securities, commented: “The world’s largest and most important company releases its financial report next week. The entire fate of AI trading hinges on this (though not 100%, the impact is massive).”

According to FactSet’s survey, analysts generally expect Nvidia’s adjusted EPS this quarter to be $1.25, with revenue of $54.8 billion, representing year-over-year increases of 54% and 56% in profits and sales, respectively.

Market attention will focus on two points: first, supply and demand conditions for AI chips, with reports that CEO Jensen Huang is actively urging TSMC to expand production capacity; second, investors need clear signals that AI chip orders remain robust to dispel market doubts.

Nvidia’s share price has retreated since hitting a record high on October 29, along with other AI chip stocks, which underscores how this earnings report will be critical in restoring market confidence.

  • Baidu, Pinduoduo, Kuaishou, NetEase, XPeng, etc.

Following Tencent and JD.com, a wave of popular Chinese concept stock earnings are on the way. Next week, Baidu, Xiaomi, Pinduoduo, Kuaishou, NetEase, XPeng Motors, Weibo, Trip.com Group, and others will release their latest earnings reports.

Meanwhile, US stock earnings from Futu Holdings, Home Depot, Walmart, Target, Lowe's, Medtronic, Ross Stores, etc., will also be released.

Economic Indicators

  • US government shutdown ends, nonfarm and other economic data incoming

After the US government shutdown ends, the release of frozen economic data will restart.

WallstreetCN writes that the US Bureau of Labor Statistics (BLS) states, the September nonfarm payrolls report will be released on November 20, and September real wage data will be released on November 21.

Additionally, the US Department of Commerce says, Q3 GDP revision will be released at 8:30am EST on November 26, and later that night October personal income, spending, and the PCE price index will also be published.

As the US government shutdown ends, market focus turns to the release schedules of accumulated economic data and their impact on the Fed's December rate decision.

  • China's November one-year and five-year Loan Prime Rate (LPR)

China’s November LPR will be published on November 20, with market consensus expecting no change.

Financial Events

  • Federal Reserve releases monetary policy meeting minutes

On November 20, the Fed will release the minutes of its October FOMC meeting, expected to reveal a more “hawkish” outlook on rate cuts. Currently, Boston Fed President Collins frankly stated that the threshold for further rate cuts is “quite high”, and San Francisco Fed President Daly said she is “open” to the decision in December.

This wave of hawkish comments has caused market expectations for a December rate cut to fall below 50%. According to Timiraos, “new Fed communicator,” the December meeting may have two options: remain unchanged, or cut rates while hinting the cycle is nearing its end.

  • Fed Vice Chairman Jefferson, New York Fed President Williams, etc., give speeches

Next week, New York Fed President John Williams will give a keynote speech at the Central Bank of Chile conference. Fed Vice Chairman Philip Jefferson will speak at Cleveland’s Financial Stability Conference. Boston Fed President Susan Collins will give welcome remarks at her bank’s economic activity event. New York Fed President John Williams will also speak at an event focused on guiding and improving market investment in communities.

  • Microsoft Ignite 2025 technology conference will be held from November 18 to 21

Microsoft announced that the Ignite 2025 conference will be held November 18-21 at the Chase Center in San Francisco, attracting more than 17,000 IT professionals and enterprise clients both online and offline. This will be the first time the conference is held without CEO Satya Nadella in attendance.

The event focuses on artificial intelligence, cloud computing and platform architecture innovation, highlighting Microsoft’s deep realignment of its technological layout. This move also reflects a shift in management priorities, aiming to let Nadella focus more on propelling high-level technology missions.

  • Japan Ministry of Finance to auction 800 billion yen in 20-year government bonds

Japan’s 20-year government bond auction draws attention, after Prime Minister Sanae Takaichi suggested a shift towards expansionary fiscal policy.

  • 2025 Data Storage Industry Conference

On November 19, the 2025 Data Storage Industry Conference will be held in Guangzhou, centering on the theme “Empowering New Storage Ecosystem, Building a New AI Future Together”.

  • Dubai Airshow will be held November 17 to 21

Dubai Airshow takes place at Al Maktoum International Airport, running through November 21, bringing together over 1,500 exhibitors. China’s C919 passenger jet will make its debut in the Middle East and exhibit jointly with the C909 business jet.

  • 2025 China International Photovoltaic and Energy Storage Industry Conference will be held November 17-20

The China International Photovoltaic and Energy Storage Industry Conference is one of the world’s top three international summits in the solar-storage industry. With the theme “Brilliant Solar and Storage, Innovating for the Future”, it will showcase new products, technologies, achievements, and trends in the global solar-storage sector. Exhibition area exceeds 60,000 square meters, with more than 6,000 participating enterprises expected.

  • Closing ceremony for the 15th National Games

The 15th National Games will be held from November 9 to 21, 2025, across Guangdong, Hong Kong, and Macau.

Risk Warning and DisclaimerThe market has risks, investment requires caution. This article does not constitute personal investment advice and does not take into account the individual investment objectives, financial status, or needs of any particular user. Users should consider whether any opinions, viewpoints, or conclusions in this article fit their own circumstances. Investments made accordingly are at one’s own risk. ```