A360
Key Takeaways✦ Atlas AI
01
U.S. stocks rallied 15% from March lows.
02
Inflation data, Mideast conflict, U.S.-China talks are key.
03
Q1 S&P 500 earnings rose 28%.
Atlas AI
U.S. equities, asourceser a sharp rally, face several potential catalysts in the week ahead, including new U.S. inflation and consumer spending data, developments in the war in Iran, and a planned meeting between U.S. President Donald Trump and Chinese President Xi Jinping in Beijing.
The S&P 500 has risen more than 15% from its late-March low. The advance has been supported by a strong first-quarter earnings season, with S&P 500 earnings on track to jump 28%, according to LSEG IBES data. The S&P 500 is up 7% for 2026 and the Nasdaq Composite is up 11%.
Key data: CPI, producer prices and retail sales
Investors will focus on April’s consumer price index report, a closely watched inflation gauge. CPI is expected to rise 0.6% asourceser a 0.9% increase in March, according to a sources poll.
Producer prices and retail sales are also due and may offer a read on inflation pressures and consumer demand as energy costs remain elevated. U.S. crude is up more than 60% for the year, and the national average gasoline price recently topped $4.50 per gallon for the first time since July 2022.
Geopolitics: Iran war and U.S.-China talks
Geopolitical risk remains in focus, particularly the war in Iran, which began in late February. Investors are watching for any progress toward a resolution and for signs the Strait of Hormuz — a key route for global oil supplies — could reopen.
The Iran conflict is also expected to be on the agenda when Trump meets Xi late next week. Markets will be looking for any developments on access to rare earths and technology, as well as broader geopolitical issues tied to the Middle East conflict.
