Overview of Economic Events and Corporate Reports for the Week of May 11-15, 2026: US CPI, Eurozone and UK GDP, Trump's Visit to China, OPEC and IEA Reports, Major Public Companies' Earnings
The week from May 11 to 15, 2026, will be one of the most eventful for global investors in the second half of spring. Key focus points will include inflation data from the US, Germany, China, Brazil, and Russia, preliminary GDP estimates for the Eurozone and the UK, monthly reports from OPEC and the IEA regarding the oil market, as well as the two-day visit of US President Donald Trump to China. An additional political-monetary factor will be the expiration of Jerome Powell's term as head of the Federal Reserve on May 15.
The stock market will continue to experience the 2026 first-quarter earnings reporting season. While its peak has already passed, investors are still closely monitoring the results from the largest companies in the US, Europe, and Asia. According to FactSet, among the companies that have reported, 80% exceeded revenue expectations, and 84% surpassed earnings per share, which is above the average figures for the past five and ten years. Reports from technology companies and new share buyback programs remain key drivers of the growth of the S&P 500 index, which is trading at record levels.
Monday, May 11, 2026: Inflation in China, US Housing Market, and Tariff Refunds Begin
The week will begin with an important signal from China and a significant political-economic event in the US. At 04:30 Moscow time, consumer inflation data for China in April will be released. For global markets, this is an indicator of domestic demand in the largest Asian economy and a crucial benchmark for the commodity sector, as changes in Chinese prices directly affect expectations for oil, metals, and industrial production.
In the US, the Trump administration will start refunding tariffs amounting to approximately $166 billion, deemed illegal according to court rulings. This could provide support for working capital, especially for importers, retailers, logistics companies, and firms heavily reliant on external supplies. At 17:00 Moscow time, data on existing home sales in the US for April will be published, providing insights into the resilience of the American consumer amid high interest rates and expensive mortgages.
- Key Economic Events: China's CPI for April, start of illegal tariff refunds in the US, Existing Home Sales in the US.
- Reports Before Market Opening: Constellation Energy, Barrick Mining, Circle Internet Group, Telefónica, Fox Corporation, Mosaic, monday.com.
- Reports After Market Closing: Petrobras, Simon Property Group, AST SpaceMobile, Steris, Ovintiv, AECOM, Hims & Hers Health.
For investors, Monday will be a day to assess consumer demand in China and the real estate market in the US, as well as the first test of whether companies outside the big tech sector can sustain the positive trend of the reporting season.
Tuesday, May 12, 2026: US CPI, ZEW Index, Oil Forecasts, and One of the Key Days of the Week
Tuesday will be the centerpiece of the week from a macroeconomic perspective. In the morning, inflation data for Germany in April, the producer price index in Switzerland, and May's ZEW economic expectations indices for Germany and the Eurozone will be released. These releases will indicate the resilience of business sentiment recovery in Europe and how the market assesses the prospects for easing by the European Central Bank.
The main event of the day is scheduled for 15:30 Moscow time — the publication of US consumer inflation for April. This release has the potential to set the direction for the dollar, treasury yields, and stock indices for the rest of the week. If core inflation turns out to be higher than expected, the market may reassess timelines for future Fed rate cuts. Additional signals will come from the US in the form of the weekly ADP employment report, federal budget data for April, the WASDE report on the global agricultural market, and short-term oil forecasts from the US Department of Energy.
- Key Economic Events: Germany's CPI, Switzerland's PPI, Germany and Eurozone's ZEW, Brazil's CPI, ADP Employment, US CPI, WASDE, US Department of Energy's short-term oil forecasts, US federal budget, API weekly oil inventories.
- Reports Before Market Opening: KBC Group, Sea Limited, Bayer, JD.com, Vodafone, Qnity Electronics, George Weston, Millicom International Cellular, Under Armour.
- Reports After Market Closing: Franco-Nevada, Constellation Software, Power Corporation of Canada, Ecopetrol, Oklo, Finning International, Karman Space & Defense.
For the stock market, Tuesday will be critical: US inflation data could either amplify or dampen rate cut expectations, thereby altering valuations of growth stocks, banks, and consumer sector companies.
Wednesday, May 13, 2026: Eurozone GDP, OPEC and IEA Reports, US PPI, and Reports from Chinese Tech Giants
On Wednesday, investors' attention will be divided between Europe, the oil market, and the largest companies in Asia. At 12:00 Moscow time, a preliminary estimate of Eurozone GDP for the first quarter of 2026 will be released. This indicator will allow for an assessment of the region's economic growth rates after a period of weak industrial activity and to understand the validity of expectations for further monetary easing by the ECB.
On the same day, two key reports for the oil market will be released: the monthly report from the International Energy Agency at 12:00 Moscow time and the monthly report from OPEC at 14:00 Moscow time. Investors will compare predictions for global demand, production from non-OPEC+ countries, and market balance in the second half of the year. At 15:30 Moscow time, the US will publish the producer price index for April, followed by official energy department data on oil inventories at 17:30 Moscow time.
- Key Economic Events: preliminary Eurozone GDP, monthly IEA and OPEC reports, US PPI, EIA oil inventories.
- Reports Before Market Opening: Tencent, Alibaba, Deutsche Telekom, E.ON, Takeda Pharmaceutical, Nebius Group, ABN AMRO, Hydro One, Tower Semiconductor, Birkenstock.
- Reports After Market Closing: Cisco Systems, Manulife Financial, Stantec, CCL Industries, Amdocs, USA Rare Earth.
Wednesday will be one of the most important days for investors in Chinese stocks and commodity assets. Reports from Tencent and Alibaba will provide insights into the pace of AI monetization, advertising revenues, and the dynamics of e-commerce in China, while Cisco's results will serve as an indicator of corporate spending on IT infrastructure.
Thursday, May 14, 2026: UK GDP, Lagarde's Speech, First Day of Trump's Visit to China
On Thursday, geopolitical events and European macro statistics will come to the fore. The first day of Donald Trump's visit to China will commence, which the market will view through the lens of trade negotiations, future tariff policies, access to technology, and prospects for bilateral procurement of raw materials, agricultural products, and industrial goods. Any statements from either side could impact Chinese stocks, semiconductor manufacturers, commodity markets, and the currencies of emerging economies.
At 09:00 Moscow time, the UK will present a preliminary estimate of its GDP for the first quarter. At 12:15 Moscow time, ECB President Christine Lagarde is scheduled to speak, and the market will be looking for signals regarding the future trajectory of interest rates in the Eurozone. Later, data on initial jobless claims in the US, Russia's trade balance for March, and weekly natural gas inventory data in the US will be released. Trading will not occur in Switzerland.
- Key Economic Events: first day of Trump's visit to China, UK GDP, Christine Lagarde's speech, Initial Jobless Claims in the US, Russia's trade balance, EIA gas inventories.
- Reports Before Market Opening: Brookfield Corporation, Honda Motor, Viking Holdings, Telefónica, NOVA, United Utilities, AtkinsRéalis, Bullish, Dillard’s, YETI Holdings.
- Reports After Market Closing: Applied Materials, Nu Holdings, Credicorp, China Gold International Resources, Figma, Cellcuity, Marfrig Global Foods, York Space Systems.
Investors will pay particular attention to the results from Applied Materials as a key supplier of equipment for the semiconductor industry, Nu Holdings' report as an indicator of digital banking in Latin America, and the publications from Brookfield and Honda that reflect the state of global investment and automotive cycles.
Friday, May 15, 2026: Second Day of Trump's Visit to China, Powell's Term Ends, and Russian Inflation
Friday will converge political, monetary, and macroeconomic risks. The second day of Donald Trump's visit to China will continue, and in the US, Jerome Powell's term as chairman of the Federal Reserve will formally end. Even if markets have already partly factored in the scenario of a leadership change at the Fed, any statements regarding a successor and the future course of monetary policy could increase volatility in bonds, the dollar, and stocks.
Early in the morning, Japan will publish the April producer price index, significant for assessing inflationary pressure in the country and future decisions by the Bank of Japan. In the US, the Empire State Manufacturing Index for May and data on industrial production for April will be released. At 19:00 Moscow time, Russia will present fresh consumer inflation data, which will be crucial for expectations regarding further decisions by the Bank of Russia.
- Key Economic Events: second day of Trump's visit to China, end of Jerome Powell's term at the Fed, Japan's PPI, NY Empire State Manufacturing Index, US industrial production, Russia's CPI.
- Reports Before Market Opening: RBC Bearings, World Kinect, Onex Corporation, Sigma Lithium.
Friday could be a day of reassessing expectations for global monetary policy. For investors in Russian assets, inflation data will be especially significant as they may influence expectations for the key rate, the bond market, and borrowing costs.
US Earnings Season: Peak is Passed, but the Market Still Relies on Quality of Profits
Although the peak of the earnings season has passed, the significance of reports for the week of May 11-15 remains high. The market approaches mid-May with strong statistics: 80% of companies that have already disclosed results exceeded analysts' expectations for revenue, while 84% surpassed earnings per share. These figures are notably above average levels for the past five and ten years, confirming the resilience of corporate margins even amid high interest rates and persistent inflation.
A key growth driver for the American market continues to be big tech companies. The largest technology firms still show faster profit growth and are announcing new share buyback programs. This buyback, along with high cash flows and expectations surrounding artificial intelligence, supports the S&P 500 at historical highs. However, this week the market will also carefully monitor second-tier companies — from equipment manufacturers to banks, commodity groups, and consumer brands. Their results will help clarify how broad the profit growth is beyond the largest tech corporations.
What Investors Should Pay Attention to in the Week of May 11-15, 2026
- US Inflation. The April CPI on Tuesday will be the week's main release and will set expectations for the Fed's rate in the coming months.
- Oil Market. OPEC, IEA, and US Department of Energy reports, along with oil inventory data, will help assess supply and demand balance ahead of the summer season.
- US-China Negotiations. Trump's visit to China could influence the trade agenda, technology sector, commodity markets, and global investors' risk appetite.
- Era Change at the Fed. The end of Jerome Powell's term could heighten attention to the future independence of the regulator and its policy.
- Quality of Corporate Earnings. After record levels of the S&P 500, investors are concerned not only with actual company results but also with management forecasts for the second half of the year.
Overall, the week of May 11-15, 2026, brings together several factors capable of altering market expectations: inflation, geopolitics, oil balance, macroeconomic growth, and corporate profits. For investors worldwide, this will be a period where market direction may be determined not by a single event but by a combination of signals from the US, Europe, China, and the commodity sector.
