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, and Corporate Reports from Major Public Companies
The week of May 11–15, 2026, is poised to be one of the most eventful for global investors in the latter half of spring. Focus will be on inflation data from the US, Germany, China, Brazil, and Russia, preliminary GDP estimates for the Eurozone and the UK, OPEC and IEA monthly oil market reports, and the two-day visit of US President Donald Trump to China. Additionally, a political-monetary factor to consider is the expiration of Jerome Powell's term as the head of the Federal Reserve on May 15.
The stock market continues to witness the corporate earnings season for the first quarter of 2026. The peak has already passed, but investors are still closely monitoring the results of major companies from the US, Europe, and Asia. According to FactSet, among companies that have reported, 80% exceeded revenue expectations, and 84% surpassed earnings per share expectations, which is above the average for the past five and ten years. Tech company reports and new buyback programs remain significant drivers of growth for the S&P 500 index, which is trading at record levels.
Monday, May 11, 2026: Inflation in China, US Housing Market, and Start of Tariff Refunds
The week will start with an important signal from China and a significant political-economic event in the US. At 04:30 Moscow time, data on consumer inflation in China for April will be released. For global markets, this is one of the indicators of domestic demand in the largest Asian economy and an important reference for the commodity sector, as Chinese price dynamics directly affect expectations for oil, metals, and industrial production.
In the US, the Trump administration will begin refunding tariffs amounting to approximately $166 billion that were deemed illegal according to court rulings. This could serve as a support factor for working capital, especially for importers, retailers, logistics, and companies that are 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 the American consumer against the backdrop of high rates and expensive mortgages.
- Key Economic Events: China CPI for April, commencement of illegal tariff refunds 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 of assessing consumer demand in China and the US real estate market, as well as a first test of whether non-big tech companies can sustain the positive momentum of the earnings season.
Tuesday, May 12, 2026: US CPI, ZEW Index, Oil Forecasts, and One of the Key Days of the Week
Tuesday will be the central day of the week from a macroeconomic perspective. In the morning, inflation data for Germany for April, the producer price index in Switzerland, and May ZEW economic sentiment indices for Germany and the Eurozone will be released. These reports will show how resilient the recovery of business sentiment in Europe remains and how the market assesses the prospects of easing by the European Central Bank.
The main event of the day is scheduled for 15:30 Moscow time — the publication of the US consumer inflation data for April. This release has the potential to set the direction for the US dollar, treasury yields, and stock indices for the remainder of the week. If core inflation is higher than expected, the market may reassess the timeline for potential Fed rate cuts. Additional signals will come 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 energy outlook from the US Department of Energy regarding oil.
- Key Economic Events: Germany CPI, Switzerland PPI, Germany and Eurozone ZEW, Brazil CPI, ADP Employment, US CPI, WASDE, short-term energy outlook from the US, federal budget of the US, 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, as US inflation data could strengthen or weaken expectations of rate cuts, thereby altering the evaluation of growth stock, banking, and consumer sector multiples.
Wednesday, May 13, 2026: Eurozone GDP, OPEC and IEA Reports, US PPI, and Reports from Chinese Tech Giants
On Wednesday, investor attention will be distributed between Europe, the oil market, and major companies in Asia. At 12:00 Moscow time, the preliminary estimate of the Eurozone GDP for the first quarter of 2026 will be published. This figure will allow analysts to assess the pace of economic growth in the region after a period of weak industrial activity and understand how justified are expectations for further easing of the ECB's monetary policy.
Also on this day, two key reports for the oil market will be released: the monthly report of the International Energy Agency at 12:00 Moscow time and the monthly report of OPEC 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 release the producer price index for April, followed by the official oil inventory data from the Energy Information Administration at 17:30 Moscow time.
- Key Economic Events: Preliminary Eurozone GDP, monthly reports from 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 equities and commodity assets. Reports from Tencent and Alibaba will provide insights into the pace of artificial intelligence monetization, advertising revenues, and e-commerce dynamics in China, while Cisco’s results will serve as an indicator of corporate IT infrastructure spending.
Thursday, May 14, 2026: UK GDP, Lagarde's Speech, First Day of Trump's Visit to China
On Thursday, geopolitical factors and European macro statistics will come to the fore. 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 purchases of raw materials, agricultural products, and industrial goods. Any statements from the parties could influence Chinese shares, semiconductor manufacturers, commodity markets, and emerging market currencies.
At 09:00 Moscow time, the UK will present its preliminary GDP estimate for Q1. 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 US initial jobless claims, Russia's trade balance for March, and weekly US natural gas inventory data will be released. Trading in Switzerland will not take place.
- 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 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 pay special attention to the results from Applied Materials as a key supplier of semiconductor equipment, Nu Holdings as an indicator of digital banking in Latin America, as well as publications from Brookfield and Honda, reflecting the state of global investment and automotive cycles.
Friday, May 15, 2026: Second Day of Trump's Visit to China, Expiration 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, while in the US, Jerome Powell's term as chairman of the Federal Reserve will officially expire. Even if markets have partially priced in the scenario of a leadership change at the Fed, any statements regarding his successor and the future direction of monetary policy could amplify volatility in bonds, the dollar, and equities.
Early in the morning, Japan will release its April producer price index, which is important for assessing inflationary pressure in the country and future decisions by the Bank of Japan. In the US, the May Empire State Manufacturing Index and April industrial production data will be published. At 19:00 Moscow time, Russia will present fresh consumer inflation data, which will be significant for expectations regarding the future decisions of the Bank of Russia.
- Key Economic Events: Second day of Trump's visit to China, expiration of Jerome Powell's term as Fed chair, Japan PPI, NY Empire State Manufacturing Index, US industrial production, Russia CPI.
- Reports Before Market Open: RBC Bearings, World Kinect, Onex Corporation, Sigma Lithium.
Friday may become a day of reevaluating expectations for global monetary policy. For investors in Russian assets, inflation data will be particularly crucial as they could influence expectations regarding the key rate, the bond market, and borrowing costs.
US Earnings Season: Peak Passed, but Market Still Dependent on Profit Quality
Although the main peak of the corporate earnings season has already passed, the significance of releases in the week of May 11–15 remains high. The market has approached mid-May with strong statistics: 80% of companies that have disclosed results have exceeded analysts' expectations for revenue, while 84% have surpassed earnings per share expectations. These figures significantly exceed the average levels of the past five and ten years, confirming the resilience of corporate margins even under conditions of high interest rates and persistent inflation.
The primary growth driver for the US market remains big tech. Major technology companies continue to show robust profit growth and announce new share buyback programs. Such buybacks, along with strong cash flows and expectations surrounding artificial intelligence, are supporting the S&P 500 near historical highs. However, this week the market will also closely watch mid-tier companies ranging from equipment manufacturers to banks, commodity groups, and consumer brands. Their results will help assess the breadth of profit growth beyond the largest technology corporations.
What Investors Should Focus on During the Week of May 11–15, 2026
- US Inflation. The April CPI on Tuesday will be the primary release of the week and will determine expectations for Fed rates in the coming months.
- Oil Market. OPEC, IEA, and US Department of Energy reports, along with inventory data, will help assess supply-demand balance ahead of the summer season.
- US-China Negotiations. Trump's visit to China may influence the trade agenda, tech sector, commodity markets, and global investors' risk appetite.
- Changing Era at the Fed. The expiration of Jerome Powell's term may heighten attention to the future independence of the regulator and its policies.
- Quality of Corporate Earnings. After record levels for the S&P 500, investors will be looking not only at actual company results but also 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 earnings. For investors worldwide, it 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.
