Global Markets & Economic Agenda – Wednesday, May 21, 2025

Economic Highlights:

• U.S. crude oil inventories rose by 1.328 million barrels, surprising markets that expected a draw of 1.85 million. 🇺🇸

• Richmond Fed President Thomas Barkin will speak at today’s Fed Listens event, with markets watching closely for policy hints.

• Japan will release its preliminary Manufacturing PMI later today, with April’s figure at 48.7 (below the 50 threshold for expansion). 🇯🇵

Corporate Earnings:

• Target (TGT): Reported EPS of $1.30, missing expectations of $1.65; revenue fell 2.8% year-over-year.

• Lowe’s (LOW): Posted EPS of $2.92 with net earnings of $1.6 billion; same-store sales declined 1.7%.

• Best Buy (BBY): Released Q4 FY25 results, full report available on their website.

Markets Overview:

• Asia-Pacific markets mostly rose, but Japan’s Nikkei 225 fell 0.61% after GDP data confirmed economic contraction.

• Europe and U.S. futures opened slightly lower, pressured by UK inflation, which rose to 3.5% in April, the highest level since January 2024. 🇬🇧