👉 Nvidia Expects ONE TRILLION of Chip Orders

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👉 Week in Review — Too Long; Didn’t Read:

Key Earnings Announcements:

• Lululemon expects $380M in tariff-related expenses in 2026.

• Micron Technologies raised their quarterly dividend by +30%.

• FedEx absorbed $120M in restructuring charged.

Investor Events / Global Affairs:

• The Fed holds rates steady as the Iran war clouds the outlook.

• Oil surges past $112 after Iran knocks out 17% of Qatar's LNG capacity.

• Nvidia's GTC keynote projects $1 trillion in AI chip orders through 2027.

Economic Updates:

• Jobless claims dropped amid a shaky market.

• Inflation for producers appears to be on the rise.

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👉 Best and Worst ETF Performers of the Week

👉 Key Earnings Announcements:

Lululemon expects $380M in tariff-related expenses in 2026, Micron Technologies raised their quarterly dividend by +30%, and FedEx absorbed $120M in restructuring charged.

• Lululemon (LULU)

Key Metrics

Revenue: $3.64 billion, an increase of +1% YoY

Operating Income: $812.3 million, compared to $1.0 billion last year

Profits: $586.9 million, compared to $749.0 million last year

Earnings Release Callout

“We are pleased to achieve fourth quarter revenue and EPS results ahead of our expectations. As we begin our new fiscal year, we are focused on executing on our action plan, offering new and differentiated products to our guests, and elevating their experiences with lululemon. Driving improvement in our full-price sales over the course of 2026 is also a key priority, particularly in North America.”

My Takeaway

• Micron Technologies (MU)

Key Metrics

Revenue: $23.9 billion, an increase of +196% YoY

Operating Income: $16.1 billion, an increase of +810% YoY

Profits: $13.8 billion, an increase of +771% YoY

Earnings Release Callout

“Micron set new records across revenue, gross margin, EPS, and free cash flow in fiscal Q2, driven by a strong demand environment, tight industry supply, and our strong execution, and we expect significant records again in fiscal Q3.

In the AI era, memory has become a strategic asset for our customers, and we are investing in our global manufacturing footprint to support their growing demand. Reflecting confidence in the sustained strength of our business, our board has approved a 30% increase in our quarterly dividend.”

My Takeaway

• FedEx (FDX)

Key Metrics

Revenue: $24.0 billion, an increase of +8% YoY

Operating Income: $1.4 billion, an increase of +5% YoY

Profits: $1.1 billion, an increase of +16% YoY

Earnings Release Callout

“Team FedEx delivered another quarter of strong financial results and excellent service for our customers, powered by disciplined operational execution, the resilience of our global network, and the accelerating impact of our advanced digital solutions. We are the industrial network that powers the global economy, and our network and digital transformation is enabling us to make supply chains smarter for everyone.”

My Takeaway

👉 Investor Events / Global Affairs:

The Fed holds rates steady as the Iran war clouds the outlook, oil surges past $112 after Iran knocks out 17% of Qatar's LNG capacity, and Nvidia's GTC keynote projects $1 trillion in AI chip orders through 2027.

• Fed Holds Rates Steady, Signals Only One Cut This Year as War and Inflation Collide

The Federal Reserve held its benchmark rate at 3.5%–3.75% on Wednesday — the second consecutive pause — as policymakers navigate a collision between sticky inflation, a softening labor market, and the economic fallout from the U.S.–Israeli war with Iran. The vote was 11-1, with Governor Stephen Miran dissenting again in favor of a quarter-point cut.

The updated dot plot showed the median FOMC member still expects one rate cut this year and another in 2027, but seven of 19 participants now see no cuts at all in 2026 — one more than in December. Officials raised their inflation forecast, projecting headline and core PCE at 2.7% for the year, while nudging GDP growth up to 2.4%. Unemployment expectations held at 4.4%, even after February's payrolls report showed employers cutting 92,000 jobs — with private-sector job creation effectively hitting zero once you adjust for margin of error.

Chair Powell pushed back on stagflation comparisons during the press conference, noting that "when we use the term stagflation, I always have to point out that that was a 1970s term, at a time when unemployment was in double figures and inflation was really high. That's not the situation we're in." But he conceded the Fed faces persistent "tension between the goals" — inflation stuck above target while the labor market quietly deteriorates.

For markets, the Fed's message was clear: don't expect help anytime soon. The S&P 500 broke below its 200-day moving average for the first time in over 200 sessions. With oil above $100, gasoline at $3.91 per gallon nationally, and rate cut expectations pushed to one at most this year, the macro backdrop heading into Q2 is the most challenging since the pandemic.

• Oil Surges Past $112 as Iran Strikes Knock Out 17% of Qatar’s LNG Capacity

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