Overview of Economic Events and Corporate Reports for the Week of 11–15 May 2026: US CPI, Eurozone and UK GDP, Trump's Visit to China, OPEC and IEA Reports, Large Public Companies' Reports
The week from 11 to 15 May 2026 is set to be among the most eventful for global investors in late spring. Focus will be on inflation data from the US, Germany, China, Brazil, and Russia; preliminary GDP estimates for the Eurozone and the UK; the monthly reports from OPEC and the IEA on the oil market; as well as the two-day visit by US President Donald Trump to China. An additional political and monetary factor will be the conclusion of Jerome Powell's term as head of the Federal Reserve on 15 May.
The stock market continues to experience the corporate reporting season for the first quarter of 2026. Although the peak has passed, investors are still closely monitoring the results of major companies from the US, Europe, and Asia. According to FactSet, 80% of the companies that have reported so far exceeded revenue expectations, while 84% outperformed earnings per share, both figures surpassing the average levels from the past five and ten years. Reports from technology companies and new buyback programmes remain particularly significant, as they continue to be key growth drivers for the S&P 500 index, which is trading at record levels.
Monday, 11 May 2026: Inflation in China, US Housing Market, and the Start of Tariff Reimbursements
The week will kick off with important signals from China and a significant political-economic event in the US. At 04:30 MSK, consumer inflation data for April from China will be released. For global markets, this is one of the indicators of domestic demand in the largest Asian economy and an essential benchmark for the commodity sector, as the dynamics of Chinese prices directly influence expectations for oil, metals, and industrial production.
In the US, the Trump administration will commence reimbursements of tariffs totalling approximately $166 billion deemed illegal by court order. For businesses, this can act as a support factor for working capital, particularly for importers, retailers, logistics firms, and companies heavily reliant on foreign supplies. At 17:00 MSK, data on existing home sales in the US for April will be published, aiding in evaluating the resilience of the American consumer amid high interest rates and expensive mortgages.
- Key Economic Events: China's April CPI, the start of illegal tariff reimbursements in the US, Existing Home Sales in the US.
- Reports Before Market Open: Constellation Energy, Barrick Mining, Circle Internet Group, Telefónica, Fox Corporation, Mosaic, monday.com.
- Reports After Market Close: 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 US real estate market, as well as the first test of whether companies outside the big tech sector can sustain the positive momentum of the reporting season.
Tuesday, 12 May 2026: US CPI, ZEW Index, Oil Forecasts, and One of the Week's Key Days
Tuesday will mark the central day of the week from a macroeconomic perspective. Morning releases will include April inflation data from Germany, the producer price index in Switzerland, and May economic sentiment indices (ZEW) for Germany and the Eurozone. These figures will indicate the resilience of business sentiment recovery in Europe and how the market views the prospects for monetary policy easing from the European Central Bank.
The main event of the day is scheduled for 15:30 MSK - the publication of US consumer inflation for April. This release has the potential to set the direction for the US dollar, treasury yields, and stock indices for the rest of the week. Should core inflation exceed expectations, the market may reconsider the timeline for future rate cuts by the Fed. Additional signals will be derived from the US ADP employment report, the federal budget for April, the WASDE report on the global agricultural market, and the short-term energy outlook from the US Department of Energy.
- Key Economic Events: Germany's CPI, Switzerland's PPI, Germany and Eurozone ZEW, Brazil's CPI, ADP Employment, US CPI, WASDE, short-term forecasts from the US Department of Energy on oil, the US federal budget, API weekly oil inventories.
- Reports Before Market Open: KBC Group, Sea Limited, Bayer, JD.com, Vodafone, Qnity Electronics, George Weston, Millicom International Cellular, Under Armour.
- Reports After Market Close: 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 has the capacity to either bolster or diminish expectations for rate cuts, thus altering the evaluation of growth stock, bank, and consumer sector multiples.
Wednesday, 13 May 2026: Eurozone GDP, OPEC and IEA Reports, US PPI, and Reports from Chinese Tech Giants
On Wednesday, investor attention will be divided between Europe, the oil market, and the largest companies in Asia. At 12:00 MSK, the preliminary Eurozone GDP estimate for the first quarter of 2026 will be published. This figure will allow assessment of the region's economic growth pace following a period of weak industrial activity and to understand the validity of expectations for further easing of ECB monetary policy.
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 MSK, and the monthly report from OPEC at 14:00 MSK. Investors will compare forecasts for global demand, non-OPEC+ production, and market balance for the second half of the year. At 15:30 MSK, the US will publish the producer price index for April, followed by the official energy department data on oil inventories at 17:30 MSK.
- Key Economic Events: preliminary Eurozone GDP, monthly reports from the IEA and OPEC, US PPI, EIA oil inventories.
- Reports Before Market Open: Tencent, Alibaba, Deutsche Telekom, E.ON, Takeda Pharmaceutical, Nebius Group, ABN AMRO, Hydro One, Tower Semiconductor, Birkenstock.
- Reports After Market Close: 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 pace of artificial intelligence monetisation, advertising revenues, and e-commerce dynamics in China, while results from Cisco will serve as an indicator of corporate expenditures on IT infrastructure.
Thursday, 14 May 2026: UK GDP, Lagarde's Speech, Trump's First Day in China
On Thursday, geopolitical factors and European macro statistics will take centre stage. 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 technologies, and the prospects for bilateral procurement of commodities, agricultural products, and industrial goods. Any statements from both sides could impact Chinese stocks, semiconductor manufacturers, commodity markets, and the currencies of emerging nations.
At 09:00 MSK, the UK will present the preliminary GDP estimate for the first quarter. Christine Lagarde's speech is scheduled for 12:15 MSK, from which 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 in Switzerland will be suspended.
- Key Economic Events: Trump's first day in China, UK GDP, Christine Lagarde's speech, Initial Jobless Claims in the US, Russia's trade balance, EIA gas inventories.
- Reports Before Market Open: Brookfield Corporation, Honda Motor, Viking Holdings, Telefónica, NOVA, United Utilities, AtkinsRéalis, Bullish, Dillard’s, YETI Holdings.
- Reports After Market Close: Applied Materials, Nu Holdings, Credicorp, China Gold International Resources, Figma, Cellcuity, Marfrig Global Foods, York Space Systems.
Investor interest will be piqued by the results of Applied Materials, a key supplier of semiconductor equipment, Nu Holdings as an indicator of digital banking in Latin America, as well as reports from Brookfield and Honda, reflecting the state of global investment and automotive cycles.
Friday, 15 May 2026: Trump's Second Day in China, Powell's Term Conclusion, and Russian Inflation
Friday will encapsulate political, monetary, and macroeconomic risks. The second day of Donald Trump's visit to China will continue, while in the US, Jerome Powell's term as chair of the Federal Reserve will officially come to an end. Even if markets have already partially priced in a change in Fed leadership, any statements regarding Powell's successor and the future direction of monetary policy could heighten volatility in bonds, the dollar, and equities.
Early on, Japan will release its April producer price index, crucial for gauging inflationary pressure in the country and future decisions by the Bank of Japan. In the US, the May Empire State Manufacturing activity index and April industrial production data will be released. At 19:00 MSK, Russia will present fresh consumer inflation data, which will be important for expectations regarding the Bank of Russia's future decisions.
- Key Economic Events: Trump's second day in China, conclusion of Jerome Powell's term as Fed Chair, Japan's PPI, NY Empire State Manufacturing Index, US industrial production, Russia's CPI.
- Reports Before Market Open: RBC Bearings, World Kinect, Onex Corporation, Sigma Lithium.
Friday could emerge as a day for reassessing expectations regarding global monetary policy. For investors in Russian assets, inflation data is particularly significant as it is likely to affect forecasts for the key rate, bond markets, and borrowing costs.
US Earnings Season: The Peak Has Passed, but the Market Still Relies on Profit Quality
Although the main peak of the corporate earnings season has passed, the significance of publications during the week of 11–15 May remains high. The market approached mid-May with strong statistics: 80% of companies that have reported thus far exceeded analysts' revenue expectations, while 84% surpassed earnings-per-share expectations. These figures significantly exceed the average levels from the past five and ten years, confirming the resilience of corporate margins even amid high interest rates and sustained inflation.
The key growth driver for the US market continues to be the big tech companies. The largest technology firms are still demonstrating outpacing profit growth and announcing new share buyback programmes. It is precisely these buybacks, alongside high cash flows and expectations surrounding artificial intelligence, that keep the S&P 500 at historical highs. However, this week, the market will also closely watch second-tier companies—from equipment manufacturers to banks, commodity groups, and consumer brands. Their results will help us understand how widespread profit growth is beyond the largest technology corporations.
What Investors Should Watch for in the Week of 11–15 May 2026
- US Inflation. April CPI on Tuesday will be the main release of the week and will shape expectations around the Fed's rate for the coming months.
- The Oil Market. Reports from OPEC, the IEA, and the US Department of Energy, along with oil inventory data, will aid in assessing supply and demand balance ahead of the summer season.
- US-China Negotiations. Trump's visit to China may influence the trade agenda, the technology sector, commodity markets, and global investors' risk appetite.
- Changing of the Guard at the Fed. The conclusion of Jerome Powell's term may amplify attention to the future independence of the regulator and its policies.
- The Quality of Corporate Earnings. Following record levels of the S&P 500, investors will care not only about the actual results of companies but also about management's forecasts for the second half of the year.
Overall, the week of 11–15 May 2026 will encompass several factors capable of altering market expectations: inflation, geopolitics, oil balances, macroeconomic growth, and corporate earnings. For investors worldwide, this period could see market direction defined not by a single event, but by a combination of signals from the US, Europe, China, and the commodity sector.
