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 to 15, 2026, will be one of the most eventful periods for global investors in the latter half of spring. The spotlight 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, as well as President Donald Trump's two-day visit to China. An additional political and monetary factor will be the conclusion of Jerome Powell's term as head of the Federal Reserve on May 15.
The stock market continues to experience the earnings season for the first quarter of 2026. While its peak has passed, investors remain focused on the results of major companies from the US, Europe, and Asia. According to FactSet, among the companies that have reported, 80% exceeded revenue expectations, and 84% surpassed earnings per share forecasts, both figures higher than the averages from the past five and ten years. Reports from technology companies and new buyback programs remain essential drivers of growth for the S&P 500, which is trading at record levels.
Monday, May 11, 2026: Inflation in China, US Housing Market, and Start of Tariff Reimbursement
The week will begin with significant signals from China and an important politico-economic event in the United States. At 04:30 MSK, consumer inflation data for China for April will be released. For global markets, this is one of the indicators of domestic demand in the largest Asian economy and a crucial guide 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 begin refunding approximately $166 billion in tariffs deemed illegal by court ruling. For businesses, this can serve as a support factor for working capital, especially for importers, retail, logistics, 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's 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 to assess consumer demand in China and the US housing market, as well as the first test of whether non-big tech companies can maintain the positive momentum of the earnings season.
Tuesday, May 12, 2026: US CPI, ZEW Index, Oil Forecasts, and One of the Week's Main Days
Tuesday will be the central day of the week from a macroeconomic perspective. In the morning, April inflation data for Germany, the Producer Price Index in Switzerland, and May's ZEW economic expectations indices for Germany and the Eurozone will be released. These releases will reveal how resilient the recovery of business sentiment is in Europe and how the market assesses the prospects for easing by the European Central Bank.
The main event of the day is scheduled for 15:30 MSK — the publication of the US consumer inflation data for April. This release could 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 timeline 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 forecasts from the US Energy Department regarding oil.
- Key Economic Events: Germany's CPI, Switzerland's PPI, Germany and Eurozone's ZEW, Brazil's CPI, ADP Employment, US CPI, WASDE, US Energy Department's short-term oil forecasts, US federal budget, API weekly crude 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 may strengthen or weaken rate cut expectations, thus changing the evaluation of growth stock, banking, and consumer sector multiples.
Wednesday, May 13, 2026: Eurozone GDP, OPEC and IEA Reports, US PPI, and Chinese Tech Giants Reports
On Wednesday, investor attention will be split between Europe, the oil market, and the largest companies in Asia. At 12:00 MSK, the preliminary estimate of the Eurozone GDP for the first quarter of 2026 will be published. This indicator will allow for the assessment of economic growth rates in the region following a period of weak industrial activity and gauge whether expectations for further easing by the ECB are justified.
On the same day, two key reports for the oil market will be released: the IEA monthly report at 12:00 MSK and the OPEC monthly report at 14:00 MSK. Investors will compare forecasts for global demand, production from non-OPEC+ countries, and market balance in the second half of the year. At 15:30 MSK, the US will release the Producer Price Index for April, and at 17:30 MSK, the official energy department data on oil inventories.
- Key Economic Events: Preliminary Eurozone GDP, IEA and OPEC monthly reports, 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 stocks and commodity assets. The reports from Tencent and Alibaba will provide insights into the pace of AI monetization, advertising revenues, and dynamics of e-commerce 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, First Day of Trump's Visit to China
On Thursday, geopolitics and European macro statistics will come to the forefront. The first day of Donald Trump’s visit to China will commence, which the market will view through the lens of trade negotiations, future tariff policies, access to technologies, and perspectives for bilateral purchases of raw materials, agricultural products, and industrial goods. Any statements from both sides could influence Chinese stocks, semiconductor producers, commodities markets, and currencies of developing countries.
At 09:00 MSK, the UK will present a preliminary estimate of GDP for the first quarter. At 12:15 MSK, European Central Bank President Christine Lagarde is scheduled to speak, from whom the market will seek 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 data in the US will be released. Trading in Switzerland will not occur.
- 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 of Applied Materials as a key supplier of equipment for the semiconductor industry, Nu Holdings as an indicator of digital banking in Latin America, as well as reports from Brookfield and Honda, reflecting the state of the global investment and automotive cycles.
Friday, May 15, 2026: Second Day of Trump's Visit to China, End of Powell's Term, and Russian Inflation
Friday will bring together 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 head of the Federal Reserve will formally come to an end. Even if markets have partially priced in the scenario of leadership change at the Fed, any statements regarding the successor and the future course of monetary policy could enhance volatility in bonds, the dollar, and stocks.
Early in the morning, Japan will publish the Producer Price Index for April, which is important 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 MSK, Russia will present fresh consumer inflation data, which will be important for expectations regarding future 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 could become a day for reassessing expectations regarding global monetary policy. For investors in Russian assets, the inflation data is particularly important, as it could influence expectations regarding the key rate, bond market, and borrowing costs.
US Earnings Season: The Peak Has Passed, but the Market Still Relies on Profit Quality
Although the main peak of the earnings season has already passed, the significance of publications during the week of May 11–15 remains high. The market has approached mid-May with strong statistics: 80% of companies that have already reported exceeded analysts’ expectations for revenue, and 84% surpassed earnings expectations. These figures significantly exceed the average levels of the past five and ten years, confirming the resilience of corporate margins even amidst high interest rates and persistent inflation.
The primary driver of growth in the US market continues to be the big tech companies. Major technology firms continue to demonstrate above-average earnings growth and announce new stock buyback programs. This buyback, along with high cash flows and expectations surrounding artificial intelligence, supports the S&P 500 at historical highs. However, during this week, the market will also closely monitor second-tier companies — from equipment manufacturers to banks, commodity groups, and consumer brands. Their results will help gauge the breadth of profit growth beyond the largest tech corporations.
What to Watch for Investors in the Week of May 11–15, 2026
- US Inflation. The April CPI on Tuesday will be the week's main release and will determine expectations for the Fed's rate in the coming months.
- Oil Market. Reports from OPEC, the IEA, and the US Energy Department, along with oil inventory data, will help assess the balance of supply and demand ahead of the summer season.
- US-China Negotiations. Trump's visit to China may influence the trade agenda, the technology sector, commodities markets, and the risk appetite of global investors.
- Changing of the Guard at the Fed. The end of Jerome Powell's term could heighten attention to the future independence of the regulator and its policy.
- Quality of Corporate Earnings. After record levels of the S&P 500, investors are focused not only on actual results but also on management's forecasts for the second half of the year.
Overall, the week of May 11–15, 2026, brings together several factors that could change market expectations: inflation, geopolitics, oil balance, macroeconomic growth, and corporate earnings. For investors worldwide, it will be a period where market directions may be determined not by a single event, but by a combination of signals from the US, Europe, China, and the commodities sector.
