Good morning investors! This week the focus will be on Nvidia earnings and the situation in the Middle East.
Today we cover:
What to expect this week
Berkshire buys and sells
Changing bond market
📊 Economy and News
What to Expect This Week
Here’s what to keep an eye on this week:
Monday, May 18
Earnings: Baidu (BIDU) and Ryanair (RYAAY) before the open are among the notable reports (around 50 companies reporting overall).
Economic Data: China’s Industrial Production, Retail Sales, and Unemployment Rate (key reads on the world’s second-largest economy). Japan GDP (Q1 preliminary) later in the day.
Tuesday, May 19
Home Depot (HD): Earnings conference call at 9 a.m. ET. Housing and renovation activity remains weak; investors will look for signs of recovery.
Wednesday, May 20
Target (TGT): Earnings call at 8 a.m. ET.
TJX Cos. (TJX): Earnings before open + call at 11 a.m. ET (TJ Maxx/Marshalls parent benefiting from bargain hunting).
Lowe’s (LOW): Earnings expected.
Fed Minutes: Released at 2 p.m. ET (April meeting). Watch for clues on interest rates, inflation, and the job market.
Nvidia (NVDA): Earnings after close (~4:20 p.m. ET) + webcast at 5 p.m. ET.
Thursday, May 21
Walmart (WMT): Earnings at 7 a.m. ET + call at 8 a.m. ET.
Ross Stores (ROST): Earnings expected.
Friday, May 22
Economic Data: U.S. University of Michigan Consumer Sentiment (final), Leading Economic Indicators.
International data: UK Retail Sales, German Ifo Business Climate, Japanese CPI.
Earnings: Frontline
Global hits:
Israel Q1 2026 GDP contracts 3.3% as Iran war weighs on economy.
Deutsche Bank sees room for a further rally in EUR/GBP.
China, US agree to reduce tariffs on some goods.
Iran-US: ‘Clock is ticking’ for Iran, says Trump as U.S., Israel step up war planning as Iran set to unveil Strait of Hormuz traffic plans, will collect tolls.
📈 Stocks
S&P 500 7,408.50 (-1.24%)
DJIA 49,526.17 (-1.07%)
NASDAQ 26,225.14 (-1.54%)
BRENT CRUDE 109.32 (+3.43%)
* Prices as of May 17th, 12:20 AM UTC
Greg Abel Overhauls Berkshire Portfolio: Big Cuts, Big Bets on Alphabet & Delta
Berkshire Hathaway’s new CEO, Greg Abel, made one of the largest portfolio changes in years during the first quarter of 2026.
In its latest 13F filing, Berkshire significantly trimmed or completely exited multiple holdings, including Visa, Mastercard, UnitedHealth, Amazon, Domino’s Pizza, Aon, Chevron (35% cut worth $8+ billion), and several others long associated with former portfolio manager Todd Combs.
Key Additions & Increases:
Alphabet (Google): More than tripled its position (+224%), now worth $16.6 billion — Berkshire’s 7th largest holding.
Delta Air Lines: New $2.8 billion stake — Berkshire’s first airline investment since selling all its airline stocks in 2020.
New York Times: Position tripled.
Small new position in Macy’s.
Notable holdings like Apple and Bank of America were largely spared from major cuts.
Interesting: The U.S. Food and Drug Administration is shuffling its top drug and biologics regulator.
US expects hundreds at health department to lose job protections.
The Senior Community Service Employment Program (SCSEP) offers low-income Americans aged 55+ paid job training opportunities. Created in 1965 under the Older Americans Act, the program now faces elimination under the Trump administration..
💵 Personal Finance
Bond Market Signals Iran Risks as Yields Spike
The bond market is flashing warning signs over the ongoing Iran conflict. Persistent oil prices above $100 per barrel are fueling inflation fears, triggering a sell-off in long-term government bonds. The 10-year U.S. Treasury yield jumped nearly 24 basis points last week, closing near 4.6% — its highest level in nearly a year.
Daleep Singh, former Deputy National Security Adviser and current chief global economist at PGIM, warns of significant risks to markets and the U.S. economy. In a CNBC interview, Singh highlighted a series of overlapping supply shocks — from COVID to Ukraine, tariffs, immigration curbs, and now Iran — that point to structurally higher inflation ahead.
This is important because rising bond yields are likely to weigh on stock prices in the near term. The surge increases borrowing costs for companies and consumers, putting pressure on corporate profits and economic growth. Higher yields also make safer government bonds more attractive compared to stocks, often leading investors to rotate out of equities.
💰 Be a Better Investor
"It is not the man who has too little, but the man who craves more, that is poor.”
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