Stock market next week: Nvidia earnings, $70-$78 Anthropic IPO and SARB rate call
The stock market’s next week, 16 to 20 November 2026, centres on two AI events: Nvidia reports quarterly results after the US close on Tuesday 17 November, and Anthropic is expected to price its IPO on Wednesday and start trading on Thursday. South African traders also get October inflation data on Wednesday and the SARB’s repo rate decision on Thursday 19 November.
Wall Street goes into the week in good shape. The major averages had their best week since August, according to CNBC, and the S&P 500 tech sector rose more than 2%, ending a five-week losing run. We covered that rally in our report on the S&P 500’s best week since August. The open question is whether the gains last through a week packed with events.
When is Nvidia’s earnings report and what is expected?
Nvidia reports fiscal third-quarter results on Tuesday 17 November after the market closes. Analysts expect revenue of about $108.7 billion, up roughly 90% from a year earlier, and adjusted earnings of about $2.47 per share, according to consensus figures cited by The Motley Fool.
This is not a normal earnings week for the company. Nvidia fell about 13% this week after Jensen Huang stepped down as chief executive, and finance chief Colette Kress became interim CEO. CNBC reports the stock has lost more than 30% in six weeks, removing roughly $2 trillion of market value, and last traded near $160. Our Nvidia earnings preview covers the numbers in more detail.
The market’s attention has moved from the AI chip cycle to the company itself. “The Nvidia story is now idiosyncratic,” Mark Hackett, chief market strategist at Nationwide, told CNBC. That framing matters. In past quarters an Nvidia beat tended to lift the whole AI trade. This time the results arrive with a leadership change, so investors will be listening for guidance, comments on the succession process and any change in data-centre demand as much as for the headline figures.
Rivals have recently gained while Nvidia slid. AMD and Broadcom each rose about 18% in a week, so a strong Nvidia report could reverse some of that rotation. A weak one could spread to the rest of the chip sector.
When does the Anthropic IPO price and start trading?
Anthropic is expected to price its shares on Wednesday 18 November, in a range of $70 to $78 per share, and begin trading on Thursday 19 November on the Nasdaq Global Select Market under the ticker “ANT”, CNBC reports. CNBC also says the company is reportedly targeting a valuation of about $1.2 trillion, down from $2 trillion discussed earlier in the autumn.
Benjamin Black of Powerlaw Corp. told CNBC the stock was “not even really that expensive”. A trillion-dollar debut would be one of the largest listings ever, so the result is a test of how much investors still want AI exposure after Nvidia’s slide. The Anthropic IPO explainer sets out what is known so far, and our guide to how an IPO works explains pricing and first-day trading.
What US economic data comes out next week?
The economic calendar matters more than usual because the Federal Reserve is now expected to raise rates. Following a hotter-than-expected October consumer price report, CME FedWatch put the chance of a December hike at about 88%, Yahoo Finance reported. Fed Governor Christopher Waller said a half-point move should be considered if core inflation ran hot, according to CNBC.
Key releases, per the CNBC calendar (US Eastern time):
- Monday 16 Nov: Empire State manufacturing index; Tyson Foods earnings.
- Tuesday 17 Nov: October retail sales, import prices and industrial production; Home Depot and Disney results; Nvidia after the close.
- Wednesday 18 Nov: Housing starts; minutes of the last Fed meeting at 2:00 p.m.; Target, Lowe’s, TJX and Palo Alto Networks report.
- Thursday 19 Nov: Weekly jobless claims and the Philadelphia Fed index; Walmart and Intuit results; Anthropic’s first day of trading.
- Friday 20 Nov: Final University of Michigan consumer sentiment for November.
Retail sales and the Fed minutes are the two to watch for rates. Strong spending would support the case for a December hike. The minutes may show how many officials were already leaning that way. Earnings from Walmart, Target and Home Depot will also show how US consumers are coping with higher borrowing costs as the holiday season begins.
Why does the dollar matter for next week?
Rate-hike bets have pushed the dollar index to its highest level since April 2025, close to 103.4 at Friday’s close according to Yahoo Finance data. A strong dollar weighs on gold, emerging-market currencies and US multinationals’ overseas earnings. If you are not sure what the index measures, our new guide What is the dollar index (DXY)? explains it. For currency pairs, see the EUR/USD outlook and USD/JPY near 160.
What is on the South African calendar?
Stats SA publishes October consumer inflation on Wednesday 18 November, according to the Investing.com calendar. In September, headline CPI rose to 4.5% from 4.4% in August, Stats SA reported. That was below the 4.7% economists had expected, but still above the SARB’s 3% target.
A day later, the SARB’s Monetary Policy Committee announces its repo rate decision on Thursday 19 November. Our SARB preview sets out the choice between holding at 7.25% and hiking. The rand is also under pressure: it recently fell to a seven-month low near R17 to the dollar. A higher-than-expected CPI figure combined with a strong dollar would strengthen the case for a hike. A softer reading would give the MPC room to hold.
What should traders watch?
- Nvidia’s guidance and leadership comments on Tuesday night, and how AMD, Broadcom and the Nasdaq react on Wednesday.
- Anthropic’s final IPO price against the $70-$78 range. Pricing above the range would point to strong demand.
- US retail sales and the Fed minutes, which drive December hike odds and the dollar.
- SA CPI and the SARB decision, back to back, for USD/ZAR and JSE banks.
Event-heavy weeks tend to bring bigger price swings, both up and down. Volatility usually rises around scheduled releases, so it helps to know the timings in advance. More coverage is on our Markets and Stocks & S&P 500 pages.
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This article is for education and information only and is not financial advice. Figures are as reported by the sources linked above.
