This week's financial markets are drawing attention as U.S. economic indicators and corporate earnings reports are concentrated. Although the stock and cryptocurrency markets rebounded last week with improved investor sentiment, many analysts believe that the U.S. stock market has not yet entered a safe zone.
As global trade tensions escalate, the stock market is on the verge of entering a bearish market. Uncertainty in tariff policies, signs of economic slowdown, and persistent inflation are affecting consumer and investor sentiment.
This week is the last week for economic indicator releases before the May Federal Reserve meeting. On Tuesday, the Consumer Confidence Index will be announced, allowing an assessment of the overall economic sentiment in the United States. Subsequently, employment-related indicators will be released, providing insights into the labor market and overall economic conditions.
On Wednesday, the March Personal Consumption Expenditures (PCE) report will be released. The PCE is an indicator showing consumers' average monthly expenditure and is used as a key inflation indicator by the central bank. On the same day, the preliminary GDP growth rate for the first quarter of 2025 will be disclosed, with economists forecasting a growth rate of 2.4% year-on-year, consistent with the previous quarter.
If the GDP figure comes in higher than expected, expectations for Fed rate cuts may weaken, while conversely, a lower growth rate or signs of slowdown could provide grounds for rate cuts.
On Friday, an unemployment-related report will be released, revealing the scale of new job creation and the unemployment rate for the previous month.
U.S. stock futures showed a downward trend on Sunday night. This week, four companies from the 'Magnificent Seven', including Amazon, Apple, Meta, and Microsoft, are scheduled to announce their earnings.
Meanwhile, the cryptocurrency market experienced fluctuations around the $3 trillion market capitalization during Asian trading hours on Monday. Bitcoin (BTC) maintained the $94,000 level over the weekend but briefly dropped below $93,000 on Monday before rebounding. Nevertheless, it maintains a 7% increase compared to last week.
Ethereum (ETH) has retreated below $1,800 again, remaining in a bearish market. In contrast, XRP rose 3% daily, reaching $2.24.
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