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, Major Public Company Earnings
The week from 11 to 15 May 2026 is set to be one of the most eventful for global investors in the latter part of spring. Key focus will be on 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 on the oil market; and a two-day visit by US President Donald Trump to China. An additional political and monetary factor will be the end of Jerome Powell’s term as Chair of the Federal Reserve on 15 May.
The stock market continues its earnings season for the first quarter of 2026. Although the peak has passed, investors are still closely monitoring the results from the largest companies across the US, Europe, and Asia. According to FactSet, among the companies that have reported, 80% exceeded revenue expectations, while 84% beat earnings per share forecasts, both figures higher than the average over the past five and ten years. Reports from technology companies and new buyback programmes remain significant drivers of growth for the S&P 500, which is trading at record levels.
Monday, 11 May 2026: Inflation in China, US Housing Market and Beginning of Tariff Reimbursements
The week will commence with an important signal from China and a significant political-economic event in the US. At 04:30 Moscow time, inflation data for April in China will be released. For global markets, this is a key indicator of domestic demand in the largest Asian economy and serves as an important reference for the commodities sector, as trends in Chinese prices directly impact expectations for oil, metals, and industrial production.
In the US, the Trump administration will start the reimbursement of approximately $166 billion in tariffs deemed illegal by the court ruling. This could serve as a support factor for working capital, especially for importers, retailers, logistics firms, and companies heavily reliant on external supplies. At 17:00 Moscow time, data on existing home sales in the US for April will be published, which will help assess the resilience of American consumers amid high rates and expensive mortgages.
- Key Economic Events: China's CPI for April, initiation of 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 gauge consumer demand in China and the housing market in the US, as well as the first test of whether companies outside the big tech sector can sustain positive earnings season dynamics.
Tuesday, 12 May 2026: US CPI, ZEW Index, Oil Forecasts and One of the Week’s Key Days
Tuesday will be the central day of the week from a macroeconomic perspective. In the morning, data on April inflation in Germany, the producer price index in Switzerland, and the May economic expectations indices (ZEW) for Germany and the Eurozone will be released. These releases will indicate the continuing resilience of business sentiment recovery in Europe and how the market appraises the prospects for easing policy by the European Central Bank.
The main event of the day is scheduled for 15:30 Moscow time— the publication of the consumer inflation data for the US for April. This release is likely to set the direction for the dollar, Treasury yields, and stock indices for the remainder of the week. If core inflation exceeds expectations, the market might reassess the timing for future rate cuts by the Federal Reserve. Additional signals will emerge from the US in the form of the weekly ADP employment report, the federal budget for April, the WASDE report on the global agricultural market, and the short-term oil forecasts from the US Energy Information Administration.
- Key Economic Events: CPI Germany, PPI Switzerland, ZEW Germany and Eurozone, CPI Brazil, ADP Employment, CPI US, WASDE, short-term forecasts from the US Energy Department on oil, US federal budget, weekly API 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 could either strengthen or weaken expectations for rate cuts, thereby affecting the valuations of growth stocks, banks, and consumer sector companies.
Wednesday, 13 May 2026: Eurozone GDP, OPEC and IEA Reports, US PPI and Chinese Tech Giants’ Earnings
On Wednesday, investor attention will be split between Europe, the oil market, and Asia's largest companies. At 12:00 Moscow time, preliminary GDP estimates for the Eurozone for the first quarter of 2026 will be published. This figure will provide insight into the region's growth rate following a period of weak industrial activity and clarify whether expectations for further easing of monetary policy by the ECB are justified.
Two key reports for the oil market will also be released: the IEA's monthly report 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 US will publish the producer price index for April, followed by official oil inventory data from the Department of Energy at 17:30 Moscow time.
- 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 significant days of the week for investors in Chinese equities and commodity assets. Earnings reports from Tencent and Alibaba will provide insight into the pace of AI monetisation, 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, 14 May 2026: UK GDP, Lagarde's Speech, First Day of Trump's Visit to China
On Thursday, geopolitical events and European macro statistics will take centre stage. 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 technologies, and prospects for bilateral sourcing of commodities, agricultural products, and industrial goods. Any statements from either side could impact Chinese equities, semiconductor producers, commodity markets, and currencies of emerging markets.
At 09:00 Moscow time, the UK will present its preliminary GDP estimate for the first quarter. At 12:15 Moscow time, ECB President Christine Lagarde is scheduled to speak, where the market will be on the lookout for signals regarding the future trajectory of interest rates in the Eurozone. Later in the day, data on initial jobless claims in the US, Russia's trade balance for March, and weekly data on US natural gas inventories 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, trade balance of Russia, 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.
Investors will be particularly interested in the results from Applied Materials, as a key supplier of semiconductor manufacturing equipment; Nu Holdings as an indicator of digital banking in Latin America; and the publications from Brookfield and Honda, reflecting the state of global investment and automotive cycles.
Friday, 15 May 2026: Second Day of Trump's Visit to China, End of Powell's Term and Russian Inflation
Friday will merge 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 expire. Even if markets have already partially priced in the scenario of a leadership change at the Fed, any statements regarding the successor and future monetary policy direction could heighten volatility in bonds, the dollar, and equities.
Early in the morning, Japan will publish April's producer price index, crucial 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 industrial production data for April will be released. At 19:00 Moscow time, Russia will present fresh consumer inflation data, which will be significant 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 Open: RBC Bearings, World Kinect, Onex Corporation, Sigma Lithium.
Friday may mark a day of reassessment regarding expectations for global monetary policy. For investors in Russian assets, the inflation data will be particularly vital, as it may influence expectations for the key rate, the bond market, and borrowing costs.
US Earnings Season: Peak Passed, But Market Still Dependent on Earnings Quality
Although the main peak of the earnings season is now behind us, the significance of publications during the week of 11–15 May remains high. The market has arrived at mid-May with strong statistics: 80% of companies that have reported results surpassed analysts' expectations for revenue, and 84% exceeded earnings per share forecasts. These figures considerably outperform the average levels seen over the past five and ten years, affirming the resilience of corporate margins even amid high interest rates and persisting inflation.
The primary drivers of growth in the US market remain the big tech companies. The largest technology firms continue to show accelerating profit growth and announce new stock buyback programmes. Indeed, buybacks, alongside robust cash flows and expectations surrounding artificial intelligence, are keeping the S&P 500 at historical highs. However, this week, the market will also pay close attention to mid-cap companies, spanning equipment manufacturers, banks, commodity groups, and consumer brands. Their results will help discern how widespread earnings growth is beyond the largest tech corporations.
What to Watch for Investors During the Week of 11–15 May 2026
- US Inflation. The April CPI on Tuesday will be the marquee release of the week, shaping expectations for the Fed's rate in the coming months.
- Oil Market. OPEC, IEA, and US Energy Department reports, along with oil inventory data, will assist in evaluating supply and demand balance ahead of the summer season.
- US-China Negotiations. Trump's visit to China may sway the trade agenda, tech sector, commodity markets, and global investors' risk appetite.
- Era Change at the Fed. The end of Jerome Powell's term is likely to draw increased attention to the future independence of the regulator and its policy direction.
- Quality of Corporate Earnings. Following record levels in the S&P 500, it's crucial for investors to focus not just on the actual results of companies but also on management's guidance for the second half of the year.
Overall, the week of 11–15 May 2026 will bring together multiple factors that could alter market expectations: inflation, geopolitics, oil balance, macroeconomic growth, and corporate earnings. For investors worldwide, this period may witness market direction swayed by a combination of signals from the US, Europe, China, and the commodities sector.
