What to Watch in the Markets This Week

What to Watch in the Markets This Week

Tariffs, Inflation Data, Fed Minutes, and Big Bank Earnings in Focus

Key Highlights:

• New U.S. tariffs announced by President Donald Trump are set to take effect Wednesday, with markets bracing for continued volatility.

• In response, China will impose a 34% retaliatory tariff on all U.S. imports starting Thursday.

• March’s Consumer Price Index (CPI) report, due Thursday, is a key indicator for inflation and monetary policy expectations.

• First-quarter earnings season kicks off, led by JPMorgan Chase, Wells Fargo, and BlackRock on Friday. Delta Air Lines and CarMax report earlier in the week.

• Investors will also review Federal Reserve meeting minutes, consumer sentiment data, wholesale inventories, and consumer credit figures.

After a historic market plunge last week—marking the biggest weekly losses since the onset of the COVID-19 pandemic—investors are looking ahead to a packed week of economic reports and earnings.

The spotlight will be on U.S. and China tariffs, both of which are scheduled to take effect midweek, potentially heightening global trade tensions and market instability.

Inflation data returns to focus with the release of March CPI on Thursday, offering key insight into whether price pressures are easing or persisting. This could influence expectations around future Federal Reserve policy decisions, especially as the latest Fed meeting minutes are also due this week.

Meanwhile, the first major earnings reports of the quarter begin, with top banks including JPMorgan Chase (JPM), Wells Fargo (WFC), and BlackRock (BLK) reporting on Friday. Delta Air Lines (DAL) and CarMax (KMX) will share results earlier in the week, providing early signs of corporate health in the face of economic uncertainty.

Rounding out the week are reports on consumer sentiment, wholesale inventories, and consumer credit, all of which could give further insight into how consumers are reacting to inflation, interest rates, and geopolitical risks.