Nvidia Q3 earnings, major economic reports set up big week across the U.S., Japan, and Europe

Financial markets are watching Nvidia this week as the company prepares to report its third-quarter numbers on Wednesday, while traders track a heavy wave of new economic data from the U.S., Japan, and every major region.

The focus is on what the chip giant delivers and how the global numbers line up, because the flow of information is nonstop, according to material provided.

With 14 Federal Reserve speeches, the Fed’s meeting minutes, and new reads on jobs, housing, inflation, manufacturing, services, and consumer expectations, traders are going into this week with zero room for autopilot.

Two weeks ago at the company’s GTC event in Washington, Nvidia CEO Jensen Huang revealed that the company already has $500 billion in chip orders booked for 2025 and 2026, a figure covering demand for the current Blackwell GPUs, next year’s Rubin GPUs, and the networking hardware tied to them.

Jensen said, “This is how much business is on the books. Half a trillion dollars worth so far.” Those numbers sent analysts digging. Some concluded that the timeline pointed to stronger-than-expected revenue in 2026, especially in areas tied to data centers and AI model training.

Wolfe Research analyst Chris Caso wrote that the backlog implied $60 billion more in 2026 data center revenue than earlier estimates. The market noted it, but Nvidia shares still sit about 5% under where they traded on October 28, when Jensen made the remarks.

U.S. data hits every day as Nvidia prepares its report

On Wednesday, Nvidia will tell investors how the July–September quarter went. Analysts surveyed are expecting $1.25 per share in earnings on $54.83 billion in revenue, which would be 56% higher than the same period a year ago.

They want a guidance figure too, and the forecasts point to $61.88 billion for the January quarter. The company usually gives only one quarter ahead, but any comments from Jensen about the existing backlog or the 2026 picture will be watched because analysts currently expect $285 billion in revenue for that calendar year.

Traders want to know who is buying, when they will take delivery, and how stable the orders look, especially since some investors think big cloud companies and AI labs may be spending too aggressively on infrastructure.

The economic calendar in the U.S. began Monday with the NY Fed Manufacturing Index, while Colombia and Mexico were closed for holidays. Canada released October inflation the same day.

Friday brings the November Services PMI, the Manufacturing PMI, the Michigan consumer sentiment number, and the Michigan inflation expectations update.

Thursday will deliver the September jobs report, the Philadelphia Fed manufacturing figure, October existing home sales, and the Kansas Fed index. The Fed’s meeting minutes arrive Wednesday along with new U.S. housing permits and housing starts.

Japan and other global regions release major volumes of data

Japan opened the week with its preliminary Q3 GDP, followed by October industrial production, October trade figures, and September machinery orders.

The country will also publish its October inflation on Friday, and its own S&P Global flash manufacturing and services PMI.

Singapore released its October non-oil domestic exports, and Thailand posted its Q3 GDP.

Europe and the U.K. are just as busy. Switzerland published its flash Q3 GDP, while Italy released its final October inflation. The U.K. and the Eurozone will publish October inflation on Wednesday.

On Thursday, Germany delivers its October producer price index, Denmark posts its flash Q3 GDP, Switzerland releases its trade balance, Türkiye updates consumer confidence, Spain issues its trade balance, and the Eurozone releases its flash consumer confidence reading alongside an ECB council meeting. The U.K. finishes the week with October retail sales.

Across the Asia-Pacific, Australia issued its RBA minutes, China will release the November loan prime rate, Taiwan reports October export orders, Hong Kong posts October inflation, New Zealand releases its October trade balance, and Malaysia publishes its October inflation.