Schwab Network

Salesforce (CRM) had a strong showing in its after hour earnings thanks to data cloud and Agentforce growth. However, e.l.f. Beauty (ELF) and SentinelOne (S) sold off after showing weaknesses in their reports. Alex Coffey is joined by Jeff Pierce and Scott Durfey as the panel takes a closer look at the earnings driving postmarket price action.

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It was a mixed day for the options flow heading into Nvidia's (NVDA) earnings after the close. Kevin Green urges investors to keep a close eye on the 5,900 to 5,905 level in the SPX, especially as low liquidity grips markets. He later looks at levels to watch in Nvidia once it reports. He sees $140 as the positive pressure level.

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Companies like Nvidia (NVDA) rallied big off April 8th lows, but as Charles Schwab's Jeffrey Kleintop points out, the Mag 7 is still down on the year. Meanwhile, Europe's top 7 defense stocks are up 57%. Jeffrey talks about the dichotomy between the U.S. and international stocks and weighs if the U.S. can return to outperformance. Joe Mazzola says we're still stuck in a "headline-driven market." He says investors may not have fully priced in tariffs, which can lead to downside action.

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GameStop (GME) has taken the leap into building a Bitcoin reserve. The company disclosed its first Bitcoin purchases today, worth over $5 billion based on current Bitcoin prices. Alex Coffey and Jenny Horne take a closer look into the meme stock's decision to build a Bitcoin reserve and how it can affect future price action.

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Patrick McKeever reacts to retail earnings. He thinks Abercrombie & Fitch (ANF) is successfully moving its target demographic to young professionals rather than teens, creating a “great merchandise success story.” He also breaks down Dick’s Sporting Goods (DKS), emphasizing the American love of casual sweats. Macy’s (M) he calls a “new management story” but notes that traditional department stores are still struggling. On Capri (CPRI), he notes their failed merger last year and the fact that they’re selling the Versace brand to Prada.

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Paul Schatz makes the case for deregulation, arguing it will stimulate the economy – though how much is unknown, especially because he thinks the Fed should’ve cut rates back in March. “We get past tariffs, there’s good stuff coming down out of D.C.” He declares, “Inflation’s dead,” and is bullish on bonds. His stock picks include American Water (AWK) and Starbucks (SBUX), calling Brian Niccol the Jamie Dimon of food.

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David Swartz and R.J. Hottovy react to Dick’s Sporting Goods (DKS) after it posted a 1Q miss. David thinks it’s been a “winner” for the past few years, but thinks shares are around fair value now. He thinks the Foot Locker acquisition is “probably a good move” and that the company is setting up for the next few decades. R.J. is also positive on the stock and says they “still have a lot of levers to pull” even if it struggles with comps this year.

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"Everyone's been waiting for" Nvidia's (NVDA) earnings, says Dave Mazza. He'll look for data center and revenue growth but expects a "messy quarter" when it comes to China sales and tariffs. That said, Dave sees Nvidia being "very adept" to trade restrictions and will carve out a new path for profits if needed. As long as Nvidia shows a clear, strong path for guidance, he expects the stock to rally.

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Ted Thatcher says the "big, beautiful bill" making its rounds in Congress has implications beyond contradictions with DOGE. He argues it doesn't go far enough to ensure prominent A.I. growth in America, including building more energy facilities to power A.I. Ted lists Alphabet (GOOGL) as a cheap Mag 7 stock that has plenty of promise with its technology. As for Nvidia (NVDA), he calls it the "premier name" in A.I. even though he expects earnings volatility.

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“Jerome Powell’s putting on a tough face right now – because he has to,” but is ultimately more dovish than people think. However, David Stryzewski argues the Fed has “been wrong on inflation” and we are facing systemic issues the Fed can’t impact. He notes that $9.6 trillion dollars of U.S. debt are coming due, and higher interest rates will make the economy “stall out.” He thinks we’ll see bankruptcies and even bank failures this year. On the other hand, he gives his bullish case for metal miners, highlighting FCX, CCJ and RIO.

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