Investors pivot to AI innovation at Meta's Connect conference and high-level US-China diplomacy, while monitoring retail and housing data for signs of economic resilience.
Meta is launching new AI glasses and a subscription platform, signaling consumer AI monetization.
Costco's earnings will provide a key read on consumer spending and inflation.
Nvidia's CEO attends a state dinner with Trump and Xi, highlighting its role in the AI arms race.
Darden's earnings will offer insights into restaurant demand and consumer health.
KB Home's commentary comes amid surging mortgage rates, pressuring housing demand.
As the post-Fed landscape settles, investors turn their attention to a high-stakes state dinner between President Trump and Xi Jinping, featuring key AI industry leaders. Meanwhile, corporate reports from Costco and Darden will serve as critical barometers for consumer spending and inflation, while KB Home faces pressure from rising mortgage rates.
The meeting is critical for trade relations ahead of a November expiration, and the presence of AI industry leaders suggests discussions on the ongoing tech arms race.
Reports from Costco and Darden are expected to reveal how consumers are coping with inflation and whether demand for non-cyclical goods and services remains stable.