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, Major Public Company Earnings
The week of May 11–15, 2026, is set to be one of the busiest for global investors in the latter half of spring. Focus will shift to 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, as well as a two-day visit from US President Donald Trump to China. Adding to the political and monetary landscape is the conclusion of Jerome Powell's term as Chair of the Federal Reserve on May 15.
The stock market continues to navigate the first quarter earnings season for 2026. While the peak has already passed, investors are still closely monitoring results from large companies in the US, Europe, and Asia. According to FactSet, among the companies that have reported so far, 80% exceeded revenue expectations, and 84% surpassed earnings per share forecasts, both above the average for the last five and ten years. Reports from technology companies and new buyback programs remain particularly significant, acting as key growth drivers for the S&P 500, which is trading at record levels.
Monday, May 11, 2026: Inflation in China, US Housing Market, and Duty Refunds Begin
The week will begin with an important signal from China and a significant political-economic event in the US. At 04:30 MSK, consumer 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 a key reference point for the commodities sector, as the dynamics of Chinese prices directly influence expectations for oil, metals, and industrial production.
In the US, the Trump administration will commence the refund process for approximately $166 billion in tariffs deemed illegal by court order. This could be a factor supporting working capital for businesses, especially for importers, retailers, logistics companies, and those highly dependent on external supply chains. 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's CPI for April, start of duty refunds in the US, Existing Home Sales in the US.
- Pre-Market Reports: Constellation Energy, Barrick Mining, Circle Internet Group, Telefónica, Fox Corporation, Mosaic, monday.com.
- Post-Market Reports: Petrobras, Simon Property Group, AST SpaceMobile, Steris, Ovintiv, AECOM, Hims & Hers Health.
For investors, Monday will be a day for evaluating consumer demand in China and real estate in the US, as well as the first test of whether non-big-tech companies can sustain the positive trend 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 in April, the producer price index in Switzerland, and the May economic expectations indices from ZEW for Germany and the Eurozone will be released. These releases will show how resilient business sentiment in Europe remains and how the market evaluates the prospects for easing policy by the European Central Bank.
The day's main event is scheduled for 15:30 MSK—publication of consumer inflation in the US for April. This release has the potential 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 may reconsider the timing for future rate cuts by the Fed. 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 oil forecasts from the US Department of Energy.
- Key Economic Events: Germany's CPI, Switzerland's PPI, Germany and Eurozone's ZEW, Brazil's CPI, ADP Employment, US CPI, WASDE, short-term oil forecasts from the US Department of Energy, US federal budget, API weekly oil stocks.
- Pre-Market Reports: KBC Group, Sea Limited, Bayer, JD.com, Vodafone, Qnity Electronics, George Weston, Millicom International Cellular, Under Armour.
- Post-Market Reports: 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 strengthen or weaken rate cut expectations, which would consequently alter assessments of growth stock multipliers, banks, and consumer sector companies.
Wednesday, May 13, 2026: Eurozone GDP, OPEC and IEA Reports, US PPI, and Earnings from Chinese Tech Giants
On Wednesday, investor attention will be divided between Europe, the oil market, and major companies in Asia. At 12:00 MSK, the preliminary estimate of Eurozone GDP for the first quarter of 2026 will be published. This figure will help assess the region's economic growth rates following a period of weak industrial activity and determine the validity of expectations for further monetary easing by the ECB.
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 OPEC's monthly report at 14:00 MSK. Investors will compare forecasts for global demand, production from non-OPEC+ countries, and market balances for the second half of the year. At 15:30 MSK, the US will publish the producer price index for April, followed by official oil inventory data from the Department of Energy at 17:30 MSK.
- Key Economic Events: preliminary Eurozone GDP, monthly reports from the IEA and OPEC, US PPI, EIA oil inventories.
- Pre-Market Reports: Tencent, Alibaba, Deutsche Telekom, E.ON, Takeda Pharmaceutical, Nebius Group, ABN AMRO, Hydro One, Tower Semiconductor, Birkenstock.
- Post-Market Reports: 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 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, May 14, 2026: UK GDP, Lagarde's Speech, and Trump's First Day in China
Thursday will shift focus to geopolitics and European macro statistics. The first day of Donald Trump's visit to China will commence, and the market will view this through the lens of trade negotiations, future tariff policies, access to technologies, and prospects for bilateral purchases of raw materials, agricultural products, and industrial goods. Any statements from both sides could affect Chinese stocks, semiconductor producers, commodity markets, and currencies of emerging economies.
At 09:00 MSK, the UK will present its preliminary GDP estimate for the first quarter. At 12:15 MSK, ECB President Christine Lagarde is scheduled to speak, and the market will be looking for signals regarding future interest rate trajectories in the Eurozone. Later, data will be released on initial jobless claims in the US, Russia's trade balance for March, and weekly natural gas inventory data in the US. Trading in Switzerland will be halted.
- Key Economic Events: Trump's first day in China, UK's GDP, Christine Lagarde's speech, US Initial Jobless Claims, Russia's trade balance, EIA gas inventories.
- Pre-Market Reports: Brookfield Corporation, Honda Motor, Viking Holdings, Telefónica, NOVA, United Utilities, AtkinsRéalis, Bullish, Dillard’s, YETI Holdings.
- Post-Market Reports: Applied Materials, Nu Holdings, Credicorp, China Gold International Resources, Figma, Cellcuity, Marfrig Global Foods, York Space Systems.
Investors will keenly watch the results from Applied Materials as a key supplier of semiconductor equipment, Nu Holdings as an indicator of digital banking in Latin America, and the reports from Brookfield and Honda reflecting the state of global investment and automotive cycles.
Friday, May 15, 2026: Trump's Second Day in China, Powell's Term Ends, and Russian Inflation
Friday will bring together 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 Chair of the Federal Reserve will officially expire. Even if the markets have partially priced in the scenario of a leadership change at the Fed, any statements concerning a successor and the future path of monetary policy could heighten volatility in bonds, the dollar, and stocks.
Early in the morning, Japan will release its April producer price index, crucial 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 industrial production data for April will be published. At 19:00 MSK, Russia will present fresh consumer inflation data, which will be significant for expectations surrounding future decisions by the Bank of Russia.
- Key Economic Events: Trump's second day in China, Jerome Powell's term as Fed Chair ends, Japan's PPI, NY Empire State Manufacturing Index, US industrial production, Russia's CPI.
- Pre-Market Reports: RBC Bearings, World Kinect, Onex Corporation, Sigma Lithium.
Friday may become a day for reevaluating expectations around global monetary policy. For investors in Russian assets, the inflation data will be particularly important 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
While the primary peak of the earnings season has passed, the significance of publications during the week of May 11–15 remains high. The market approaches mid-May with strong statistics: 80% of companies that have released results have exceeded analysts' forecasts for revenue, and 84% have surpassed earnings per share expectations. These figures significantly exceed the averages from the last five and ten years, confirming the resilience of corporate margins even amid high interest rates and ongoing inflation.
The key driver of growth in the US market continues to be the big tech firms. The largest technology companies continue to demonstrate accelerated profit growth and announce new share buyback programs. These buybacks, alongside robust cash flows and expectations surrounding artificial intelligence, are keeping the S&P 500 at historic highs. However, this week the market will also be closely monitoring second-tier companies—from equipment manufacturers to banks, commodity groups, and consumer brands. Their results will help gauge how broad the profit growth is beyond the largest tech corporations.
What Investors Should Focus on During the Week of May 11–15, 2026
- US Inflation. April's CPI on Tuesday will be the key release of the week and will determine rate expectations from the Fed for the upcoming months.
- Oil Market. Reports from OPEC, the IEA, and the US Department of Energy, along with inventory data, will help assess the balance of supply and demand ahead of the summer season.
- US-China Negotiations. Trump's visit to China could impact the trade agenda, technology sector, commodity markets, and global risk appetite.
- Era Shift at the Fed. Jerome Powell's term conclusion will draw attention to the future independence of the regulator and its policy direction.
- Quality of Corporate Earnings. Following record highs in the S&P 500, investors will be concerned not only with reported results but also with management outlooks for the second half of the year.
Overall, the week of May 11–15, 2026, brings together several factors that could alter market expectations: inflation, geopolitics, oil balances, macroeconomic growth, and corporate earnings. For global investors, 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.
