This week, the market focuses on the earnings performance of Wall Street tech giants, U.S. employment data, and U.S.-China trade relations, as these events and data will profoundly influence global stock markets and economic trends.
Bitcoin continued to fluctuate narrowly between $94,000 and $95,000 over the weekend, until a noticeable decline occurred early this morning (28th), falling below $93,000, currently reported at $92,911 before publication.
As the new week approaches, investors will face a series of key events and data that may bring significant volatility to the financial markets. Notably, the earnings season for technology giants, which is highly anticipated on Wall Street, the U.S. employment report, and the subtly changing U.S.-China trade relations are particularly worthy of attention.
Source of the image: OKX
Earnings season for tech giants: Leading or dragging down the market?
This week is a critical period for corporate earnings season in the U.S., as influential tech giants on Wall Street will successively release their latest quarterly financial reports. Among them, the performance of Apple, Microsoft, Amazon, and Meta, considered the leaders of the 'Seven Giants' by the market, is undoubtedly the focus of global investors.
Market analysis indicates that from the beginning of 2025 to the present, the overall stock price performance of the 'Seven Giants' has shown insufficient strength compared to the previous year, partly due to excessive gains in earlier periods and divergent market views on future growth. Therefore, the performance of these tech giants' earnings reports this week is crucial for assessing the short-term and mid-term direction of the tech stock sector and the overall U.S. stock market.
Key economic data: Employment, inflation, and the fog of Fed policy
In addition to a series of dense corporate earnings reports, several important macroeconomic data this week will also significantly impact the market's judgment and trends. Among them, the U.S. will release multiple labor market data, including the April unemployment rate and the ADP employment report, often referred to as 'mini non-farm,' as well as the number of initial jobless claims from last week.
If the upcoming employment data shows that the labor market remains tight (for example, a decline in the unemployment rate and continuous wage growth), this may indicate that inflationary pressures have not completely eased, potentially strengthening the Federal Reserve's resolve to maintain higher interest rates for a longer period or delaying market expectations for rate cuts. Conversely, if the employment data is weaker than expected, indicating a slowdown in the labor market, this may provide the Federal Reserve with greater room for rate cuts.
In terms of U.S.-China trade relations, although the overall friction background remains, some signs of easing emerged last week. Reports indicate that China is considering exempting certain U.S. pharmaceutical products from the previously imposed 125% tariffs in retaliation for U.S. tariffs, and may suspend tariffs on at least eight U.S. semiconductor products.
In the U.S., Treasury Secretary Yellen earlier released some relatively moderate statements, which help alleviate global supply chain tensions and may have a positive impact on improving market risk sentiment. Nevertheless, the volatility of trade policies still requires investors to remain cautious.
