By Tom Lauricella
Publication Date: 2026-05-04 00:00:00
Earnings will continue to be the focus this week, but many of the major market players reported last week. As the first quarter results come in, a clear trend is emerging that the expansion of artificial intelligence infrastructure is accelerating and the impact is being felt throughout the economy. With the focus on earnings and AI, economic data will come back to the fore with the release of April’s jobs report – look for a deeper dive later this week.
AI is already replacing humans and driving the US economy
When economists talk about the direction of the economy, the consumer is typically described as the one in charge. But now the AI boom is not only reflected in profits, but is also noticeable in economic data such as last week’s gross domestic product report for the first quarter. Exactly how big AI’s impact on the economy is up for debate, but no matter how you look at it, there’s a significant footprint, says Preston Caldwell, senior US principal at Morningstar.
