Live: NVIDIA GTC 2025 Keynote

Federal Reserve Chairman Jerome Powell takes center stage this week, following the S&P 500's plunge into its first correction since October 2023 and a drop in consumer sentiment for the third month in a row. The Federal Open Market Committee will announce its monetary-policy decision and release its updated Summary of Economic Projections on Wednesday. The central bank is widely expected to keep the federal-funds rate unchanged at 4.25% -- 4.50%

Companies reporting earnings this week include General Mills on Wednesday, FedEx and Nike on Thursday, and Carnival on Friday.

The retail sales report from the Census Bureau on Monday is also highly anticipated, given the recent concerns over weakening consumer spending. There will also be several data releases on the health of the housing market.

GTC, Nvidia’s biggest conference of the year, begins Monday and runs till Friday in San Jose.

Monday 3/17

The Census Bureau reports retail sales data for February. Consensus estimate is for a 0.6% month-over-month increase, after a 0.9% decline in January. Excluding autos, retail sales are expected to rise 0.3%, compared to a 0.4% drop previously. The health of the consumer has been a growing concern on Wall Street as many airlines and retailers have recently forecast weakening demand.

The National Association of Home Builders releases its Housing Market Index for March. Economists forecast a 42 reading, which would match February data. Readings below 50 indicate that homebuilders are pessimistic about housing-market demand in the near term.

Tuesday 3/18

The Census Bureau reports new residential construction statistics for February. The consensus call is for a seasonally adjusted annual rate of 1.37 million privately-owned housing starts, about even with the January figure.

Wednesday 3/19

General Mills reports third-quarter fiscal results.

The Federal Open Market Committee announces its monetary-policy decision. The central bank is widely expected to keep the federal-funds rate unchanged at 4.25% -- 4.50%. The FOMC will also release its updated Summary of Economic Projections. At the end of last year, FOMC members had penciled in about two quarter-point interest-rate cuts by the end of 2025. Traders are currently pricing in closer to three cuts by year end.

Thursday 3/20

Accenture, Darden Restaurants, FactSet Research Systems, FedEx, Lennar, Micron Technology, Nike, and PDD Holdings release earnings.

The National Association of Realtors reports existing-home sales for February. Economists forecast a seasonally adjusted annual rate of 3.9 million homes sold, 200,000 fewer than in January. Existing-home sales remain near 15-year lows.

Friday 3/21

Carnival announces first-quarter fiscal-2025 results.