Wall Street is gearing up for a packed Thursday featuring critical corporate earnings and significant economic reports. McDonald’s and banking giant Citigroup are in focus with their respective earnings and investor day, while AI powerhouses Nvidia and Corning are buzzing after a major partnership announcement.
Key economic data, including jobless claims and consumer expectations, will provide fresh insights into the market’s health, alongside earnings from Block and AI cloud firm CoreWeave, all poised to shape the next trading session.
Welcome to your daily 'Stocks @ Night' briefing, providing a first look at tomorrow's movers and a recap of today's market action as the S&P 500 continues its record-setting run. Here's what CNBC TV producers are eyeing for the upcoming trading session:
McDonald's Faces Earnings Test Amid Stock Slide
The global fast-food giant, McDonald's (MCD), is set to report its latest earnings on Thursday morning. The results will be a focal point on CNBC's "Squawk Box," featuring Becky Quick, Andrew Ross Sorkin, and Joe Kernen. A special report from CNBC's Eunice Yoon will delve into McDonald's performance in the crucial Chinese market, airing during the 6 a.m. ET hour.
Investors will be watching closely, as McDonald's shares have struggled recently, shedding 13% over the past three months and declining 17% from their early March high. An analyst's chart would typically illustrate this 'MCD 3M mountain' decline.
Corning and Nvidia Forge Ahead in AI Tech
A significant development emerged Wednesday morning with CNBC TV's Kristina Partsinevelos breaking the news: Corning (GLW) is establishing three new factories dedicated to producing optical technologies exclusively for Nvidia (NVDA). This announcement sent Corning's shares soaring, closing 12% higher on Wednesday after an initial jump of 20% in morning trading. The stock even hit a new high, although it pared some gains, and astonishingly, has more than doubled so far in 2026.
Nvidia, a key player in the AI revolution, also saw a robust session, climbing almost 6%. Despite this, it remains 4% off its April high. For deeper insights, both CEOs – Nvidia's Jensen Huang and Corning's Wendell Weeks – are scheduled to speak on "Mad Money" with Jim Cramer on Thursday.
Citigroup's Investor Day & CEO Jane Fraser's Outlook
Thursday marks a pivotal investor day for banking behemoth Citigroup (C). CEO Jane Fraser is slated to join Sara Eisen and Carl Quintanilla on "Money Movers" at 11:30 a.m. ET, where she's expected to provide updates and strategic insights. Citigroup's stock has shown resilience, advancing 9% so far in 2026, though it's down 5.6% from its April 21 high.
A typical financial chart would highlight the 'C YTD mountain' showing its performance in 2026.
Key Economic Data on Tap: Jobs & Consumer Sentiment
The economic calendar is packed. ADP's private payrolls report for April showed a gain of 109,000 jobs, surpassing Street expectations. However, ADP chief economist Nela Richardson expressed caution, noting an increase in lower-paying, part-time positions.
Thursday brings further insights with the jobless claims data due at 8:30 a.m. ET, to be covered live by the "Squawk Box" team. The Dow Jones consensus estimates initial jobless claims at 206,000. The much-anticipated comprehensive jobs report for April will follow on Friday morning, also featuring on "Squawk Box."
Prediction markets offer an interesting perspective: Kalshi indicates 67% of bettors expect over 60,000 jobs created, with 57% forecasting above 80,000, 39% above 100,000, and 23% even betting on more than 120,000 jobs. For more details on these markets, visit CNBC Prediction Markets.
Block and CoreWeave Earnings Set to Drive Post-Market Action
Payment services firm Block (SQ) is scheduled to report earnings after the closing bell. The stock has been a strong performer, gaining 26.5% in the last three months, despite being 14% down from its August high. CEO Jack Dorsey made headlines in February by announcing significant staff reductions, citing the power of artificial intelligence to enable leaner, more efficient teams. His social media post on X (formerly Twitter) detailed this shift as one of the hardest decisions in the company's history, but one that has seen the stock jump 36% since the announcement. CNBC will provide full earnings coverage and immediate stock reaction in the 4 p.m. hour.
AI cloud company CoreWeave, based in New Jersey, also reports after the bell. Its shares have surged 53% in the past three months, though they are 26% off their June high. CNBC TV's Kristina Partsinevelos will deliver the numbers and market reaction at 4 p.m. ET.
Consumer Expectations & Retail Sector Under Scrutiny
The New York Federal Reserve will release crucial consumer expectations data at 11 a.m. ET, offering a pulse check on the American consumer. The retail sector's performance has been mixed: the State Street SPDR S&P Retail ETF (XRT) has risen 4% in a month but has fallen over 2% since the onset of the Iran war, which led to rising gasoline prices, and is 7% from its January high.
The S&P Consumer Discretionary Sector has climbed 13.7% in a month and 7.4% since the war began. Conversely, the S&P Consumer Staples Sector added nearly 2% in a month but has lost 5% since the war's commencement.
Disclosure: CNBC and Kalshi maintain a commercial relationship that includes customer acquisition and a minority investment.
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