Wall Street Week ahead: US-China trading talks, inflation, Jerome Powell's speech, the first quarter of the first place in focus | Einsmark news

Wall Street investors in the coming week will have many economic data to analyze, such as inflation in consumer price, retail sales and producer price index. In addition to economic data, the spotlight will also be about the outcome of trade talks between the United States and China, a speech by Federal Reserve chairman Jerome Powell at a conference in Washington, DC, and the earnings in the first quarter. US Treasury Secretary Scott Besent said on Sunday that there was a significant progress in discussions with China. He said he would give more details on Monday. Besent and US trade representative Jamieson Greer met with Chinese Vice Prime Minister He Lifeng in Geneva on Saturday to unbundle a trade war between the world’s two largest economies. The talks continued on Sunday until a second day. Greer said the differences between the two countries were not as great as thought before. Meanwhile, White House economic adviser Kevin Hassett told Fox News that more foreign trade transactions could come with other countries as soon as this week. Economic Calendar On May 13 (Tuesday) data on the NFIB optimism index for April and Consumer Price Index (CPI) for April will be declared. On May 15 (Thursday), separate reports on initial unemployed claims for the week ended May 10, US retail sales for April, Producer Price Index (PPI) for April, Empire State Manufacturing Survey for May, Philadelphia Fed Manufacturing Survey for May, Industrial Production for April, Capacity utilization for May and Home be released. Fed chairman Jerome Powell is also scheduled on this day. On May 16 (Friday), the data on the import price index for April, Housing for April, and Consumer Sentiment (Prelim) will be released for May. Earnings follow companies will report the first quarter earnings in the coming week – Fox Corp, Acadia Healthcare, Hertz Global, JD.com, Intuitive Machines, Cisco, Nextracker, Boot Barn Holdings, Walmart and Alibaba Adr. Markets last week closed US stock indices on a quiet note on Friday. The Dow Jones industrial average fell by 119.07 points, or 0.29%, to 41,249,38, the S&P 500 lost 4.03 points, or 0.07%, to 5,659.91 and the NASDAQ composition achieved 0.78 points, or flat, to 17,928,92. In the bond market, the return on the 10-year treasury increased to 4.38% from 4.37%.