The S&P 500 index suffered a big reversal on Friday as concens about the Federal Reserve and Donald Trump’s policies continued. Wall Street investors are concerned that the Fed will even hike interest rates later this year as inflation remains high.
They are also concerned that Trump’s tariffs will negatively impact companies. Some of these tariffs, especially on Canadian and Mexican goods will go into effect earlier next month.Let’s explore some of the top S&P 500 stocks to watch next week.
Top S&P 500 stocks to watch
The S&P 500 index has remained in focus in the last few weeks as many constituent companies published their earnings. FactSet data shows that 77% of all companies in the index have published their results, with most of them beating the analysts estimates. The average earnings growth was 16.9%, the highest rate since 2021. So, the most notable stocks to watch next week will be Walmart (WMT), NVIDIA (NVDA), Salesforce (CRM), Dell (DELL).
NVIDIA (NVDA)
NVDIA has been the most important company in the United States in the past few years as it emerged as the posterchild of the artificial intelligence (AI) craze. This craze has pushed its revenues significantly higher as big firms like Microsoft and Google boosted their AI spending, The big-4 firms are expected to spend $320 billion in AI this year.
A key issue among investors is that DeepSeek has demonstrated that one does not need to spend heavily on highly expensive chips. Also, AMD has come up with cheaper GPUs that are doing equally well.
Analysts expect that NVDA’s revenue will be $38.1 billion, bringing the annual figure to $130 billion. They expect it to make $195 billion this year. NVIDIA has a long history of beating analysts estimates, meaning that it may publish better results.
Walmart (WMT)
Walmart is another top S&P 500 stock to watch next week as it releases its earnings. These numbers come at a time when the Walmart stock price is firing on all cylinders as investors cheer its performance against Amazon. The fear that Amazon would disrupt its business has gone.
Analysts expect that Walmart’s quarterly revenue will be $164 billion, a 3% increase from what it made a year earlier. This revenue will translate to an annual figure of $700 billion, followed by $733 billion next year.
Salesforce (CRM)
Salesforce stock remains in a deep correction after falling by 16% from its highest level this year. It is also at a risk of more downside after forming a double-top pattern as shown above.
Salesforce will publish its financial results next week. Analysts expect the company’s revenues to be $10.04 billion, up by 8% from a year earlier. This growth will translate to an annual revenue of $37.96 billion, followed by $41.38 billion in 2025.
The earnings per share (EPS) is expected to come in at $2.6, up from $2.29 a year earlier. Its annual EPS will come in at $10, up from $8.22.
Dell (DELL)
Dell is another top S&P 500 index stock to watch next week. Its stock traded at $117 on Friday, up by about 18% from its lowest point this year. This rebound happened after the company reached a $5 billion server deal with xAI, one of the biggest players in the AI industry.
Dell’s revenue is expected to come in at $24.6 billion, a 10% increase. This revenue figure will be at $96.2 billion, up by 8.86% from a year earlier.
The other top S&P 500 index stocks to watch will be ONEOK, Public Storage, Realty Income, Intuit, Workday, Lowe’s, Synopsys, Snowflake, Autodesk, and Vistra. Vistra is a key stock to watch because it has been one of the best-performing company in the index.
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