Overview of Economic Events and Corporate Reports for the Week of May 11–15, 2026: U.S. CPI, Eurozone and U.K. GDP, Trump’s Visit to China, OPEC and IEA Reports, Major Public Company Earnings
The week from May 11 to 15, 2026, promises to be one of the most eventful for global investors in the latter half of spring. Key highlights will include inflation data from the U.S., Germany, China, Brazil, and Russia; preliminary GDP estimates for the Eurozone and the U.K.; monthly reports from OPEC and the IEA regarding the oil market; as well as a two-day visit from U.S. President Donald Trump to China. An additional political-monetary factor will be Jerome Powell's term as Chairman of the Federal Reserve concluding on May 15.
The earnings season for the first quarter of 2026 continues in the stock market. While the peak has already passed, investors are still closely monitoring the results from major companies in the U.S., Europe, and Asia. According to FactSet, among the companies that have reported, 80% exceeded revenue expectations, and 84% surpassed earnings-per-share projections, which is above the average for the last five and ten years. Reports from technology companies and new buyback programs remain crucial drivers of growth for the S&P 500, which is trading at record levels.
Monday, May 11, 2026: Inflation in China, U.S. Housing Market, and Start of Tariff Refunds
The week will commence with significant signals from China and an important political-economic event in the U.S. At 04:30 Moscow time, consumer inflation data for China in April will be released. For global markets, this serves as one indicator of domestic demand in the largest Asian economy and a critical benchmark for the commodity sector, as the trends in Chinese prices directly influence expectations for oil, metals, and industrial production.
In the U.S., the Trump administration will begin refunding tariffs amounting to approximately $166 billion, deemed unlawful by a court ruling. This could support working capital, particularly for importers, retailers, logistics companies, and businesses heavily reliant on external supplies. At 17:00 Moscow time, data on existing home sales in the U.S. for April will be published, offering insights into the resilience of American consumers amid high rates and expensive mortgages.
- Key Economic Events: China CPI for April, start of U.S. tariff refunds, existing home sales in the U.S.
- Pre-Market Reports: Constellation Energy, Barrick Mining, Circle Internet Group, Telefónica, Fox Corporation, Mosaic, monday.com.
- Post-Market Reports: Petrobras, Simon Property Group, AST SpaceMobile, Steris, Ovintiv, AECOM, Hims & Hers Health.
For investors, Monday will focus on evaluating consumer demand in China and the U.S. real estate market, as well as serving as the first test of whether non-big tech companies can sustain the positive momentum of the earnings season.
Tuesday, May 12, 2026: U.S. CPI, ZEW Index, Oil Forecasts, and One of the Week’s Main Days
Tuesday will be the central day of the week in terms of macroeconomics. In the morning, April inflation data for Germany, the Producer Price Index (PPI) for Switzerland, and May ZEW economic expectations indices for Germany and the Eurozone will be released. These reports will shed light on how resilient business sentiment remains in Europe and how the market perceives the prospects for monetary policy easing from the European Central Bank.
The key event of the day is scheduled for 15:30 Moscow time — the publication of U.S. consumer inflation data for April. This release has the potential to set the tone for the dollar, Treasury yields, and stock indices for the remainder of the week. If core inflation exceeds expectations, the market may reassess the timeline for any potential Federal Reserve interest rate cuts. Additional signals will come from the U.S. in the form of the weekly ADP employment report, the federal budget for April, the WASDE global agricultural market report, and the U.S. Energy Information Administration's short-term oil forecasts.
- Key Economic Events: Germany CPI, Switzerland PPI, Germany and Eurozone ZEW indices, Brazil CPI, ADP Employment, U.S. CPI, WASDE, U.S. EIA short-term oil forecasts, U.S. federal budget, weekly API oil inventory reports.
- Pre-Market Reports: KBC Group, Sea Limited, Bayer, JD.com, Vodafone, Qnity Electronics, George Weston, Millicom International Cellular, Under Armour.
- Post-Market Reports: Franco-Nevada, Constellation Software, Power Corporation of Canada, Ecopetrol, Oklo, Finning International, Karman Space & Defense.
For the stock market, Tuesday will be critical: U.S. inflation data has the potential to either amplify or temper rate cut expectations, thus altering evaluations of growth stock, banking, and consumer sector multipliers.
Wednesday, May 13, 2026: Eurozone GDP, OPEC and IEA Reports, U.S. PPI, and Reports from Chinese Tech Giants
On Wednesday, investors’ attention will be divided among Europe, the oil market, and major companies in Asia. At 12:00 Moscow time, the preliminary Eurozone GDP estimate for Q1 2026 will be published. This figure will provide insights into the region's economic growth rates following a period of weak industrial activity and gauge how justified the expectations for further monetary policy easing by the ECB are.
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 OPEC’s monthly report at 14:00 Moscow time. Investors will compare forecasts for global demand, production from non-OPEC+ countries, and market balance for the second half of the year. At 15:30 Moscow time, the U.S. will release the producer price index for April, followed by the official EIA oil inventory data at 17:30 Moscow time.
- Key Economic Events: Eurozone preliminary GDP, IEA and OPEC monthly reports, U.S. PPI, EIA oil inventories.
- Pre-Market Reports: Tencent, Alibaba, Deutsche Telekom, E.ON, Takeda Pharmaceutical, Nebius Group, ABN AMRO, Hydro One, Tower Semiconductor, Birkenstock.
- Post-Market Reports: Cisco Systems, Manulife Financial, Stantec, CCL Industries, Amdocs, USA Rare Earth.
Wednesday will be one of the most important days of the week for investors in Chinese stocks and commodity assets. Reports from Tencent and Alibaba will provide insights into the monetization rates of artificial intelligence, 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: U.K. GDP, Lagarde’s Speech, First Day of Trump’s Visit to China
On Thursday, geopolitical factors and European macro statistics will come to the forefront. The first day of Donald Trump’s visit to China will begin, 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 producers, commodity markets, and the currencies of emerging economies.
At 09:00 Moscow time, the U.K. will present a preliminary GDP estimate for Q1. Christine Lagarde, head of the ECB, is scheduled to speak at 12:15 Moscow time, from which the market will seek signals regarding the future trajectory of interest rates in the Eurozone. Later in the day, U.S. initial unemployment claims, Russia's trade balance for March, and weekly natural gas inventory data for the U.S. will be released. Trading in Switzerland will be suspended.
- Key Economic Events: First day of Trump’s visit to China, U.K. GDP, Christine Lagarde’s speech, U.S. initial jobless claims, Russia trade balance, EIA gas inventories.
- Pre-Market Reports: Brookfield Corporation, Honda Motor, Viking Holdings, Telefónica, NOVA, United Utilities, AtkinsRéalis, Bullish, Dillard’s, YETI Holdings.
- Post-Market Reports: Applied Materials, Nu Holdings, Credicorp, China Gold International Resources, Figma, Cellcuity, Marfrig Global Foods, York Space Systems.
Investor interest will be particularly drawn to the results from Applied Materials, a key supplier of equipment to the semiconductor industry, as well as Nu Holdings as an indicator of digital banking in Latin America, with publications from Brookfield and Honda reflecting the status of global investment and the automotive cycles.
Friday, May 15, 2026: Second Day of Trump’s Visit to China, Conclusion of Powell’s Term, and Russian Inflation
Friday will combine political, monetary, and macroeconomic risks. The second day of Donald Trump’s visit to China will continue, and in the U.S., Jerome Powell's term as Chairman of the Federal Reserve will officially end. Even if markets have partially priced in the scenario of a leadership change at the Fed, any statements regarding the successor and future monetary policy could heighten volatility in bonds, the dollar, and stocks.
Early in the morning, Japan will release the April producer price index, important for assessing inflationary pressures in the country and future decisions by the Bank of Japan. In the U.S., the May Empire State Manufacturing index and April industrial production data will be released. At 19:00 Moscow time, Russia will present fresh consumer inflation data, which will be crucial for expectations regarding future decisions from the Bank of Russia.
- Key Economic Events: Second day of Trump’s visit to China, conclusion of Jerome Powell’s term as Fed Chair, Japanese PPI, NY Empire State Manufacturing Index, U.S. industrial production, Russian CPI.
- Pre-Market Reports: RBC Bearings, World Kinect, Onex Corporation, Sigma Lithium.
Friday could become a day of re-evaluating expectations for global monetary policy. For investors in Russian assets, inflation data is particularly important, as it could influence expectations regarding the key rate, the bond market, and borrowing costs.
U.S. Earnings Season: Peak Passed, But Market Still Depends on Profit Quality
Although the main peak of the earnings season is now behind us, the significance of reports during the week of May 11–15 remains high. The market approaches mid-May with strong statistics: 80% of companies that have already released their results exceeded analyst expectations for revenue, while 84% surpassed earnings per share forecasts. These figures significantly exceed the average levels of the past five and ten years, reaffirming the resilience of corporate margins even amid high interest rates and persisting inflation.
The key growth driver for the American market continues to be the big tech companies. Major tech firms are consistently showing accelerated profit growth and announcing new stock buyback programs. Such buybacks, along with robust cash flows and expectations surrounding artificial intelligence, keep the S&P 500 near historical highs. However, this week, the market will also closely monitor second-tier companies — from equipment manufacturers to banks, commodity groups, and consumer brands. Their results will help gauge the breadth of profit growth outside the largest technology corporations.
What Investors Should Focus on During the Week of May 11–15, 2026
- U.S. Inflation. The April CPI on Tuesday will be the week's key release and will shape expectations for the Fed's interest rate in the coming months.
- Oil Market. Reports from OPEC, the IEA, and the U.S. EIA, along with oil inventory data, will provide insights into the demand-supply balance heading into the summer season.
- U.S.-China Negotiations. Trump’s visit to China could affect the trade agenda, the tech sector, commodity markets, and the risk appetite of global investors.
- Changing of the Guard at the Fed. The conclusion of Jerome Powell's term may heighten attention on the future independence of the Fed and its policy directions.
- Quality of Corporate Earnings. Following record levels of the S&P 500, investors will be interested not only in actual results but also in management forecasts for the second half of the year.
Overall, the week of May 11–15, 2026, encapsulates multiple factors that could alter market expectations: inflation, geopolitics, oil balance, macroeconomic growth, and corporate earnings. For investors globally, this will be a period where market directions may be dictated not by a single event but rather by a combination of signals from the U.S., Europe, China, and the commodity sector.
