--- title: "Stock Market Today: May 20, 2024" description: Wall Street seems set for a constructive start this morning, as traders look to extend last week’s gains. Investors will continue to focus on the Federal Reserve, while also waiting for a key report from NVIDIA (NVDA). image: https://investor.valueline.com/hubfs/social-suggested-images/iStock_000006488152XSmall-358.jpg --- [![The Value Line Blog](https://investor.valueline.com/hubfs/VL%20Blog%20Images/vl_blog_header.png)](https://investor.valueline.com/blog) [Stock Market Today](https://investor.valueline.com/blog/topic/stock-market-today) # Stock Market Today: May 20, 2024 May 20, 2024 The U.S. stock market seems set for a constructive start this morning, as traders look to extend last week’s gains. Over the next few days, investors will continue to focus on the Federal Reserve, while also waiting for a key report from technology giant [NVIDIA (NVDA)](https://research.valueline.com/research#sec=company&sym=NVDA). As we were publishing this piece, the S&P 500 Index futures were ahead about 10 points (0.18%) in pre-market trading. This morning should be relatively quiet, as there are no major economic reports scheduled. However, a number of Federal Reserve officials will be making presentations at various events today and throughout the week. In addition, on Wednesday the FOMC (Federal Open Market Committee) will publish the minutes from its most-recent meeting. Investors will be paying close attention to any information associated with the Federal Reserve, as any change to the interest-rate outlook can greatly influence the direction of the financial markets. Notably, last week investors turned quite bullish after a tame CPI (Consumer Price Index) reading lent credence to the notion that an interest-rate cut might soon be forthcoming. At the very least, the news confirmed that another rate hike would probably not be instituted any time soon. A handful of widely-watched technology companies are set to deliver profit reports this week. After today’s closing bell, we will hear from [Palo Alto Networks (PANW)](https://research.valueline.com/research#sec=company&sym=PANW), a provider of cybersecurity solutions. Meanwhile, the main event will take place on Wednesday when NVIDIA (NVDA), a company at the forefront of the AI (artificial intelligence) revolution, posts its results. Wall Street will be paying close attention to this presentation, as it will likely have implications for the broader technology sector. It is worth noting that NVIDIA is one of the largest publicly-traded issues, so a pronounced move in the stock could easily impact the broader market. Also this week, we will hear from [Snowflake (SNOW)](https://research.valueline.com/research#sec=company&sym=SNOW), a data analytics provider, and [Workday (WDAY)](https://research.valueline.com/research#sec=company&sym=WDAY), a supplier of enterprise software. Technically, the stock market is performing reasonably well. The broader S&P 500 Index (now at the 5,300 mark) is sitting near new high ground. In addition, the Dow Jones Industrial Average and technology-heavy NASDAQ are trading at record levels, which is also a bullish indicator. Nonetheless, some caution may still be warranted, given that stocks have staged a massive advance since last October with no significant pullbacks along the way. – Adam Rosner *At the time of this article’s writing, the author had a position in NVIDIA (NVDA).* [CLICK HERE](https://investors.valueline.com/) for more information on our services or call 1-800-VALUELINE (1-800-825-8354). Our account managers are available Monday through Friday, 8:00 AM to 6:00 PM Eastern Time. 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