Next Week: Retail Earnings and Iran Deal Could Move Markets – Here’s What Investors Are Watching

TLDR

• The S&P 500 has posted eight straight weeks of gains, with the Dow looking to top 51,000 for the first time.
• Key earnings this week from Dell, Marvell, Salesforce, Dollar Tree, Burlington, Gap and Best Buy
• Q1 earnings growth was tracked at 26% year over year, the highest level since 2021
• President Trump said Iran’s Strait of Hormuz deal was ‘largely negotiated’
• Tech companies are framing AI-driven layoffs as innovation, not cost-cutting

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The stock market heads into the last week of May on solid ground. The S&P 500 is holding near 7,500, and investors are shifting from earnings season to a period of digesting data and anticipating surprises.

Markets are closed Monday for Memorial Day, leaving a four-day trading week filled with earnings reports and economic data.

Retailers take center stage

Several major retailers are scheduled to report first-quarter results this week. Dollar Tree, Burlington Stores, Gap, and American Eagle Outfitters are all on schedule.

#Profits For the week of May 25, 2026https://t.co/hLn2sKQhEY$MRVL $Customer relationship management $Snow $deal $PATH $ZS $MDB Cost $ $bpy $square meter $PLAB $ESLT $adsc $s $HRL $SNPS $box $HPQ $DK $ dowry $API $ESTC $P $AZI $octa $oma $ billion dollars $fast $sky $ kargo $AMSC $CPRI $PDD $nkno $BBWI $MOD $ANF $NTAP $perl… pic.twitter.com/fFaNFqiS9Y

– Earnings Whispers (@eWhispers) May 22, 2026

Investors want to know how low-income consumers are holding up under the pressure of rising gas prices and rising inflation. Dollar stores in particular will be monitored for signs that core shoppers are declining.

Best Buy also reports on Wednesday. The retailer’s earnings call will be one of the first led by incoming CEO Jason Bonfig, making it a closely watched appearance.

Last week gave a mixed picture of retail trading. Walmart It issued weak near-term forecasts while maintaining its full-year forecast. Target beat expectations and raise guidance. Despite this, shares of both companies declined.

The better news came from the clothes. VF Corp, Amer Sports and Ralph Lauren all reported strong numbers and saw their stocks rise.

AI stocks are back in focus

Wednesday brings results from Marvell technologywhich is up 120% so far this year. Salesforce also reported that day, though it has struggled to ride the AI ​​wave and its shares are still down more than 30% from a year ago.

Dell Technologies Thursday reports. Executives have previously described the AI ​​opportunity as business transformative, and investors will be listening to see if that confidence remains.

Synopsys compiles the names associated with artificial intelligence and reports Wednesday after the bell. The stock got a boost earlier this year when activist investor Elliott Investment Management disclosed a stake.

These results come on the heels of Nvidia’s earnings last week, which showed continued strength in… Artificial intelligence infrastructure Spending. Overall earnings growth for the quarter was 26% year over year according to Bank of America, the strongest pace since 2021.

Bank of America analyst Savita Subramanian noted that while executives sounded a cautious tone on calls, guidance came in above average and well above historical trends.

Iran deal and economic data

President Trump said Saturday that the agreement with Iran was “largely negotiated” and would be announced soon. The agreement reportedly includes reopening the Strait of Hormuz, a major global shipping route that has been under pressure since the conflict erupted earlier this year.

🚨 “The Agreement has been substantially negotiated, and is subject to finalization, between the United States of America, the Islamic Republic of Iran, and various other nations, as listed…” – President Donald J. Trump pic.twitter.com/Z49bOkkUoh

-The White House (@WhiteHouse) May 23, 2026

Markets have responded to Iran-related headlines before, only to see deals fail. Secretary of State Marco Rubio urged caution, saying it’s not over until it’s over.

On the economic side, the Conference Board will release its Consumer Confidence Index on Tuesday. The Personal Consumption Expenditures Index, the Fed’s preferred measure of inflation, will be released on Thursday.

University of Michigan Consumer confidence fell last week, even as Americans continued to spend despite feeling pessimistic — a pattern that has held longer than many expected.

Layoffs in technology also remain in the news. Companies, including Meta, are framing job cuts as an AI-driven transformation rather than simple cost cutting. Layoff numbers remain low overall, but this trend is being watched closely as AI adoption spreads beyond early adopters in the technology sector.