Big Earnings, Musk’s Chip Bet, and Retail Watch: What’s Moving Markets

​Wednesday’s trading session is shaping up to be packed with action, as investors digest a flurry of earnings reports, economic signals, and a dose of Elon Musk-driven headlines.

Target is under the spotlight with a fresh earnings report coming in the morning. The retail giant has had a rough stretch—down 27% year-to-date and still reeling from a 7% drop since April 2, when the White House announced sweeping new tariffs. In contrast, Walmart is up about 9% over the same period.

Lowe’s is also on deck to report, facing a 6% slide over the past three months and 19% off its October highs. Its performance closely tracks that of Home Depot, which is down 4.5% since February.

Meanwhile, Baidu headlines Chinese tech earnings. U.S.-listed Chinese internet stocks have been struggling: Baidu is flat for the quarter and off 23% from its October peak, while Alibaba and JD.com are down 15.5% and 29%, respectively.

Canada Goose will report as well. Though the stock has tumbled nearly 15% over the last three months, it has rebounded 11% in the past month and is up 9.3% since the tariff pause on April 2.

Snowflake will release earnings after the bell. Its stock has dipped 6% from its 52-week high, but strong AI demand could reshape its outlook.

Palo Alto Networks shares are in focus after the company beat earnings estimates but missed on margins. CEO Nikesh Arora appeared on CNBC, stressing AI security as a key growth driver. The stock dropped 4% after hours but remains up 16% this month.

On the corporate leadership front, Amazon is holding its shareholder meeting. Shares have gained 16% since Andy Jassy took over in 2021, but still lag behind the QQQ ETF’s 45% return in the same window.

Then there’s Tesla, where Elon Musk continues to dominate the conversation. After a two-part interview with CNBC, Musk confirmed that Tesla and xAI plan to keep buying GPUs from Nvidia and AMD, and previewed plans to roll out 10 robotaxis in Austin by the end of June. Tesla stock is on a tear—up 42% in a month and 96% over the past year.

Finally, the New York Knicks hit the court for Game 1 of the Eastern Conference Finals. Stocks tied to Madison Square Garden, including MSG Entertainment and MSG Sports, have rallied in May, boosted by playoff momentum.

​Bottom line: From earnings to tech leadership to Musk’s chip empire, Wednesday’s session is stacked with market-moving headlines—and traders will have plenty to digest.