Stock Market Heads For Midyear With Nike, FedEx And Micron Technology On Tap

Market Overview - Nvidia (NVDA) briefly became the world's largest public company by market capitalization, overtaking Microsoft (MSFT) before Microsoft regained its lead [1] - The Nasdaq and S&P 500 reached record closing highs, with the S&P 500 topping 5,500 for the first time [1] - IBD's market exposure guide indicates an investment level of 80%-to-100% [1] Company Earnings and Performance - Micron Technology (MU) is expected to report fiscal Q3 earnings of 48 cents per share on sales of $6.66 billion, a significant improvement from a loss of $1.43 per share on sales of $3.75 billion in the previous year [3] - Nike (NKE) is anticipated to report Q4 results with earnings acceleration and slight sales growth, despite a nearly 12% decline in stock price this year [5] - FedEx (FDX) is set to report fiscal Q4 results, with analysts predicting an 8% EPS growth and less than 1% revenue increase [6][7] - Carnival (CCL) expects to report improved Q2 losses of 2 cents per share, with revenue projected to increase by 15.6% to $5.68 billion [8] - Levi Strauss (LEVI) is forecasted to see a 169% earnings jump and a 9% sales gain for Q2, despite struggling sales in recent quarters [8] Economic Indicators - Wall Street anticipates a modest increase of 0.1% to 0.15% in the core PCE price index, indicating a potentially stable inflation environment [4] - Initial jobless claims data will be closely monitored, as it may suggest a softening labor market amid high interest rates [4]