Markets Rally as Focus Shifts to Inflation, Jobs, and Tech Earnings
Global markets rebounded last week amid signs of easing U.S.-China trade tensions. This week, investors will focus on eurozone inflation data, the U.S. jobs report, and earnings from major tech firms, including Meta, Microsoft, Amazon, and Apple.
Europe: Inflation and Growth Data in Focus
The eurozone will release its flash Consumer Price Index (CPI) for April on Friday. March inflation eased to 2.2%, while core inflation dropped to 2.4%, the slowest since 2021. Preliminary GDP figures from Spain, Germany, France, and Italy are also due, offering insight into the region’s economic momentum.
Forecasts suggest eurozone inflation will dip to 2.1% in April, with core CPI slightly rising to 2.5%. ECB President Christine Lagarde recently said disinflation is nearly complete, but U.S. tariffs have darkened the outlook. The ECB has cut rates seven times since June 2024, with one more cut expected in June to bring the deposit rate to 2%.
United States: Jobs, Growth, and Apple’s Earnings
In the U.S., the April jobs report and first-quarter GDP will be closely watched. March job growth surprised to the upside, but tariffs could soon weigh on hiring. Economists expect 129,000 new jobs in April and no change in the 4.2% unemployment rate.
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GDP growth is forecast to slow sharply to 0.3% in Q1 from 2.4% in Q4 2024. Meanwhile, the Fed’s preferred inflation gauge, the PCE index, will also be released.
On the corporate front, Apple is expected to report 4% revenue growth and a 5% earnings increase. Although Apple benefitted from temporary tariff exemptions, it still faces 20% duties on China-made goods and plans to move iPhone production for U.S. sales to India by 2026.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
