Elections, business and consumer confidence and retail sales
WEEKLY MARKET COMMENTARY |
Investors will be closely watching geopolitical events during the week ahead with particular attention paid to the Tuesday, May 9 Korean election following the outcome of the French election, which bolstered financial markets over the weekend and into the Monday trading session. With 83 percent of the S&P having already reported earnings, the focus will be on inflation and retail sales data this week in the United States, in addition to nine different Federal Reserve (Fed) speakers. New York Fed President William Dudley speaking on globalization in Mumbai on Thursday, May 11 will likely be the most notable.
The U.S. Treasury will issue $24 billion in three-year notes on Tuesday, May 9, $23 billion in 10-year notes Wednesday, May 10, and $15 billion in 30-year bonds on Thursday, May 11. The major external economic event will be the publication of the Bank of England’s monetary policy committee minutes and inflation report on Thursday, May 11.