Weekly Market Review
Last week turned out to be far from uneventful by Friday, when Trump announced he recommends imposing a 50% tariff on EU goods starting June 1. This was his response to what he called a weak tariff proposal from the EU. In true Trump style—threaten first, negotiate later—his statement prompted a Sunday phone call from European Commission President Ursula von der Leyen. As a result, the imposition of 50% tariffs on the EU was postponed to July 9 (the date when reciprocal tariffs are scheduled to take effect).
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Macro Stats in Focus Starting Wednesday:
May 28 (Wednesday)
NVIDIA Q1 Earnings Report: Given NVIDIA’s market cap, the report could have a strong impact on the overall stock indices and potentially set the tone for the tech sector.
May 29 (Thursday)
Preliminary GDP q/q (Second Estimate): The first reading showed a 0.3% decline in U.S. GDP, raising recession concerns. Any upward revision will likely be viewed positively by markets.
Prelim GDP Price Index q/q: A key stagflation risk indicator. Markets will welcome a decline in this figure.
Unemployment Claims: Labor market data is best interpreted in the context of inflation. Ideally, markets want economic slowdown and inflation to decelerate in tandem.
May 30 (Friday)
PCE Price Index: This is the Fed’s preferred inflation gauge. It’s based on CPI and PPI data already released, so the market impact will depend on how the actual figure compares to the forecast. Risk assets are likely to rally on a lower-than-expected reading.
Crypto Market
Bitcoin has set a new all-time high at $111,980. With strong institutional demand (BTC ETF inflows hit $2.75 billion last week), the uptrend is likely to continue. The $114,000–$115,000 range is a potential short-term target—beyond that, it’s all about how far the imagination goes.
Ethereum (ETH) is also attracting attention, with $250 million in ETH ETF inflows last week. After two weeks of consolidation, a breakout to the upside is likely, with a test of the $2,800–$3,000 zone expected
#Bitcoin
#BTC #ETH
