CPI out this week, retail earnings, Biden tariffs: 3 Things

Market futures (^DJI, ^IXIC, ^GSPC) are having a refreshed outlook after all three of the major indices closed last week in the green. Stocks are preparing for the Consumer Price Index's (CPI) inflation data expected out on Wednesday, May 15.

Amidst this week's CPI report, Wall Street is laser-focused on top retailers Home Depot (HD) and Walmart (WMT) who will be reporting earnings on Tuesday, May 14, and Thursday, May 16, respectively.

Lastly, President Biden is expected to announce new tariffs sanctioned against China on Tuesday, which could significantly impact imports such as Chinese semiconductors and EVs.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Luke Carberry Mogan.

Video Transcript

But for this Monday morning, let's get to the three things you need to know before the opening bell that finds the Madison Mills and Rick Newman have more futures pointing to a higher open this morning after the Dow saw its best week of the year ending Friday Wall Street.

Now looking for the fresh inflation data on Wednesday traded traders remain optimistic.

That rate hikes are mostly like off off the table for the fed despite a hotter than expected inflation print that we've seen in recent months.

Now markets are currently pricing in less than two interest rate cuts this year for Bloomberg data.

Plus we'll get a check on the pulse of the consumer Wal Mart Home Depot and Alibaba are leading a quiet a week of quarterly reports.

This earnings season does start to slow down here with the fed holding interest rates higher for longer.

And this will continue to watch closely from those earnings reports for any signs that the resilience in consumer spending is starting to dwindle that will also become more clear with a rules retail sales report.

And President Biden is expected to announce on Tuesday new tariffs on some Chinese goods.

The president will hit a range of industries from electric vehicles to batteries, solar power to critical minerals.

The announcement would also quadruple tariffs on EVs from China.

According to a Wall Street Journal report that move could raise the tariff rate to roughly 100% from its current level of 25%.