According to PANews, the recent consensus reached between the United States and China on a trade agreement has led to a resurgence in market risk appetite, resulting in a positive close for major Wall Street indices this week. The S&P 500 Index is on track for its fifth consecutive day of gains, with all three major U.S. indices posting weekly increases. The S&P 500 has regained all its losses for the year, now just 4% shy of its all-time high.
Looking ahead to next week, U.S. economic data is expected to be relatively subdued, but several Federal Reserve officials are scheduled to speak. Additionally, Moody's potential downgrade of the U.S. rating could cause significant market volatility when trading opens on Monday. Key events to watch include:
On Monday at 05:20 UTC+8, New York Fed President John Williams will deliver a commencement speech at Hofstra University in Hempstead, New York. At 20:30 UTC+8, Atlanta Fed President Raphael Bostic will give the opening remarks at the Atlanta Fed's 2025 Financial Markets Conference. At 20:45 UTC+8, Fed Vice Chair Jefferson and New York Fed President Williams will speak.
On Tuesday at 01:15 UTC+8, Dallas Fed President Lorie Logan will moderate a panel at the Atlanta Summit. At 21:00 UTC+8, Atlanta Fed President Bostic will deliver opening remarks at an event, and Richmond Fed President Thomas Barkin will speak at the 2025 Investing in Rural America Conference.
On Wednesday at 01:00 UTC+8, St. Louis Fed President James Bullard, a 2025 FOMC voting member, will discuss economic outlook and monetary policy. At 07:00 UTC+8, Atlanta Fed President Bostic will host a meeting where Cleveland Fed President Loretta Mester and San Francisco Fed President Mary Daly will deliver keynote speeches.
On Thursday at 00:00 UTC+8, Richmond Fed President Barkin will attend a 'Fed Listens' event. At 20:30 UTC+8, the U.S. initial jobless claims for the week ending May 17 will be released. At 21:45 UTC+8, the preliminary May S&P Global Manufacturing and Services PMI will be announced.
On Friday at 02:00 UTC+8, New York Fed President Williams will deliver a keynote speech at a monetary policy implementation seminar.
Traders will be closely monitoring the preliminary U.S. PMI figures for May, as well as speeches from several Federal Reserve officials. They are keen to understand whether the Fed will continue to focus on economic growth or shift its attention to inflation prospects following the U.S.-China agreement. An increase in PMI could indicate improved business sentiment post-agreement, but investors are eager for clear guidance on the Fed's next steps.