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 Reports
The week from 11 to 15 May 2026 promises to be one of the most eventful for global investors in the second half of spring. Key focal points will include inflation data from the US, Germany, China, Brazil, and Russia, preliminary GDP estimates from the Eurozone and the UK, the monthly reports from OPEC and the IEA regarding the oil market, as well as a two-day visit by US President Donald Trump to China. An additional political and monetary factor will be the expiration of Jerome Powell's term as head of the Federal Reserve on 15 May.
On the stock market front, the corporate earnings season for the first quarter of 2026 continues. While the peak has already passed, investors are still closely monitoring the results from the largest companies in the US, Europe, and Asia. According to FactSet, among those that have reported so far, 80% exceeded revenue expectations and 84% surpassed earnings per share forecasts, which is above the average for the past five to ten years. Reports from technology companies and new buyback programs remain particularly significant, as they continue to drive growth in the S&P 500, which is trading at record levels.
Monday, 11 May 2026: Inflation in China, US Housing Market, and Start of Tariff Refunds
The week will begin with an important signal from China and a significant political-economic event in the US. At 04:30 MSK, inflation data for China in April will be released. For global markets, this is one of the indicators of domestic demand in the largest Asian economy and an important benchmark for the commodities sector, as the dynamics of Chinese prices directly impact expectations for oil, metals, and industrial production.
In the US, the Trump administration will begin refunding tariffs totaling around $166 billion, deemed illegal by court ruling. This could support working capital for businesses, particularly importers, retailers, logistics firms, and companies highly dependent on external supplies. At 17:00 MSK, data on existing home sales in the US for April will be published, helping to assess the resilience of the American consumer amid high rates and expensive mortgages.
- Key Economic Events: China CPI for April, start of 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 for assessing consumer demand in China and the US housing market, as well as a first test of whether companies outside the big tech sector can maintain positive performance during earnings season.
Tuesday, 12 May 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 in April, the producer price index in Switzerland, and May's ZEW economic expectations indices for Germany and the Eurozone will be released. These releases will show how resilient business sentiment remains in Europe and how the market assesses the prospects of easing policy by the European Central Bank.
The main event of the day is scheduled for 15:30 MSK — the publication of consumer inflation data in the US for April. This release is likely to set the direction for the dollar, Treasury yields, and stock indices for the remaining part of the week. If core inflation exceeds expectations, the market may revise its timeline for future 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 short-term forecasts 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 oil forecasts from the US DOE, US federal budget, API weekly crude 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 rate cut expectations, thereby changing the valuation of growth stock multiples, banks, and consumer sector companies.
Wednesday, 13 May 2026: Eurozone GDP, OPEC and IEA Reports, US PPI, and Reports from Chinese Tech Giants
On Wednesday, investor attention will be split between Europe, the oil market, and major companies in Asia. The preliminary Eurozone GDP estimate for the first quarter of 2026 will be released at 12:00 MSK. This figure will allow for an assessment of the region's economic growth pace following a period of weak industrial activity and understand whether expectations for further easing of ECB monetary policy are justified.
On the same day, two key reports for the oil market will be released: the IEA's monthly report at 12:00 MSK, followed by OPEC's monthly report at 14:00 MSK. 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 MSK, the US will publish the producer price index for April, and at 17:30 MSK, the official energy department's data on oil inventories will be released.
- Key Economic Events: preliminary Eurozone GDP, monthly reports from the IEA and OPEC, US PPI, EIA crude 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 AI monetization, advertising revenues, and e-commerce dynamics 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 factors and European macro statistics will take center stage. The first day of Donald Trump's visit to China will commence, with the market viewing it through the lens of trade negotiations, future tariff policies, access to technology, and prospects for bilateral procurement of commodities, agricultural products, and industrial goods. Any statements from either side could influence Chinese stocks, semiconductor manufacturers, commodity markets, and currencies of emerging economies.
At 09:00 MSK, the UK will present the preliminary estimate of GDP for the first quarter. At 12:15 MSK, ECB President Christine Lagarde is scheduled to speak, with the market anticipating 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 levels in the US will be released. There will be no trading in Switzerland.
- Key Economic Events: first day of Trump's visit to China, UK GDP, Christine Lagarde's speech, US Initial Jobless Claims, 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 be particularly interested in the results from Applied Materials as a key supplier of equipment for the semiconductor industry, Nu Holdings as an indicator of digital banking in Latin America, and reports 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 converge political, monetary, and macroeconomic risks. The second day of Donald Trump's visit to China will continue, and in the US, Jerome Powell's term as chairman of the Federal Reserve will officially expire. Even if markets have somewhat priced in the scenario of leadership changes at the Fed, any statements regarding his successor and the future course of monetary policy could increase volatility in bonds, the dollar, and stocks.
Early in the morning, Japan will publish April's producer price index, an important gauge for assessing inflationary pressures in the country and future decisions by the Bank of Japan. In the US, the May Empire State Manufacturing Index and data on industrial production for April will be released. At 19:00 MSK, Russia will present fresh consumer inflation data, which will be crucial for expectations regarding the Bank of Russia's future decisions.
- Key Economic Events: second day of Trump's visit to China, conclusion of Jerome Powell's term as Fed Chairman, 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 for reassessing expectations regarding global monetary policy. For investors in Russian assets, inflation data will be especially important, as it could impact expectations for the key rate, the bond market, and borrowing costs.
US Earnings Season: Peak Passed, but Market Still Dependent on Earnings Quality
While the main peak of corporate earnings season has passed, the significance of publications during the week of 11–15 May remains high. The market has entered mid-May on strong statistics: 80% of companies that have already released results exceeded analysts’ revenue expectations, while 84% surpassed earnings per share forecasts. These figures significantly exceed average levels over the past five and ten years, confirming the resilience of corporate margins even amid high interest rates and persistent inflation.
Key drivers of growth in the US market remain the big tech companies. Major tech firms continue to report outpacing growth in earnings and announce new share buyback programs. It is this buyback, along with strong cash flows and expectations surrounding artificial intelligence, that support the S&P 500 at historical highs. However, this week the market will also pay close attention to second-tier companies — from equipment manufacturers to banks, commodity groups, and consumer brands. Their results will help assess how broad the earnings growth is beyond the largest tech corporations.
What Investors Should Focus On During the Week of 11–15 May 2026
- US Inflation. The April CPI on Tuesday will be the week's main release and will determine expectations for Fed rates over the coming months.
- Oil Market. OPEC and IEA reports, along with US inventory data, will help assess the demand-supply balance ahead of the summer season.
- US-China Negotiations. Trump's visit to China could influence the trade agenda, tech sector, commodity markets, and global investors' risk appetite.
- Era Change at the Fed. Jerome Powell's term conclusion could heighten focus on the future independence of the regulator and its policies.
- Quality of Corporate Earnings. Following record S&P 500 levels, investors will be keenly interested not only in actual company results but also in management forecasts for the second half of the year.
Overall, the week of 11–15 May 2026 combines several factors capable of altering market expectations: inflation, geopolitics, oil balance, macroeconomic growth, and corporate profits. For investors globally, this 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 commodities sector.
