Upbeat music plays.
[Screen shows “Weekly Market Outlook with Jeffrey Kleintop”]
[Jeff holds up an illustration of a hairpiece labelled “Tariffs”]
From tariff talks and fiscal plans, to key inflation data, to the minutes of this month’s Fed meeting, and Nvidia’s earnings, I’m Jeff Kleintop with 90 seconds on what you need to know about the week ahead.
Monday is Memorial Day in the U.S. and a Spring Bank Holiday in the U.K. with markets closed.
Tariff talks likely to continue this week after little progress last week and Friday’s threat from President Trump to hit the EU with 50% tariffs on their exports to the U.S.—higher than those on China—on Sunday June 1, well before the 90-day pause on 20% EU tariffs was to expire.
This week, Senate Republicans are vowing
[Jeff holds up an illustration of the White House labelled “Washington D.C.”]
they will make changes to President Trump’s “big, beautiful bill” after it passed the House last Thursday. The fiscal plans have helped elevate 10-year Treasury yields which have been weighing on sectors sensitive to long-term interest rates, particularly the housing market, which slowed further in April.
On Wednesday, we get Nvidia earnings, the minutes of the May 7 Fed meeting, and an OPEC meeting. Normally these would be the highlights of the week. But Nvidia is no longer the top stock in the S&P 500 nor is it a market leader this year, the Fed is widely expected to remain on pause at its next meeting in mid-June, and OPEC
[Jeff holds up an illustration of an oil well derrick]
is widely expected to confirm a boost in oil output. Still, any surprises could move the markets.
Friday is full of inflation readings.
[Jeff holds up an illustration of an alarm clock labelled “CPI”]
We get May preliminary CPI for Germany and Italy and for the U.S. we get April PCE, that’s the Fed’s favorite inflation indicator, along with personal income, spending, and merchandise trade, and the University of Michigan’s consumer sentiment readings which have been flagging soaring inflation expectations in recent months.
[Jeff holds up sign saying "Thank You"]
Thanks for watching.
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