PANews reports on May 17th that with the important consensus reached between China and the US on trade agreements earlier this week, market risk appetite has begun to recover, and Wall Street's major stock indices ended the week on a positive note. The S&P 500 is expected to achieve its fifth consecutive trading day of gains, with all three major US stock indices rising for the week. The S&P 500 has recovered all its losses for the year, now only about 4% below its historical high. Looking ahead to next week, US data appears relatively calm, but many Federal Reserve officials will be speaking. Additionally, Moody's downgrade of the US credit rating may trigger market turbulence on Monday's opening. Here are the key points the market will focus on in the new week:
Monday 05:20, New York Fed President Williams will deliver a graduation speech at Hofstra University Graduate Commencement in Hempstead, New York
Monday 20:30, Atlanta Fed President Bostic will attend the Atlanta Fed 2025 Financial Markets Conference and deliver the opening remarks
Monday 20:45, Fed Vice Chair Jefferson and New York Fed President Williams will give speeches
Tuesday 01:15, Dallas Fed President Logan will moderate a panel at the Atlanta Summit
Tuesday 21:00, Atlanta Fed President Bostic will deliver opening remarks at an event
Tuesday 21:00, Richmond Fed President Barkin will deliver opening remarks at the 2025 Investing in Rural America Conference
Wednesday 01:00, 2025 FOMC voting member and St. Louis Fed President Mester will speak about economic prospects and monetary policy
Wednesday 07:00, Atlanta Fed President Bostic will chair a meeting, with Cleveland Fed President Harker and San Francisco Fed President Daly delivering keynote speeches
Thursday 00:00, Richmond Fed President Barkin will attend an event called "Fed Listens"
Thursday 20:30, US initial jobless claims for the week ending May 17
Thursday 21:45, US May S&P Global Manufacturing and Services PMI preliminary value
Friday 02:00, New York Fed President Williams will deliver a keynote speech at a Monetary Policy Implementation Symposium
Traders will focus on the US PMI preliminary value for May, but they may also pay attention to speeches by several Fed officials to understand whether the Fed continues to be concerned about economic growth or is more focused on inflation prospects after finding some common ground with China. A rise in PMI might indicate improved business sentiment following the China-US agreement, but investors may want to hear clear statements about the Fed's next steps.
