April is coming to an end, will it be missed though? We’re not sure. All financial markets across the world were heavily influenced by the growing escalations of the U.S./China trade war, which led markets like crypto and stocks to lose momentum throughout the entirety of the month.
This week we’ll get to see several key data that will help us anticipate Jerome Powell’s next move, regarding the Fed’s decision on May 7 of whether to lower interest rates or not.
Monday – April 28
The Canadians are voting to decide who will be the nation’s next prime minister. The two leading candidates, Carney and Polievre, both plan to challenge Donald Trump’s tariff stance, as well as rebut Trump’s push to annex Canada. Whoever wins, we can expect an increase in political clashes between the two neighbors moving forward.
Tuesday – April 29
The U.S. Conference Board Consumer Confidence report will likely be one of the most impactful economic reports of the day. This data, which measures the level of confidence Americans have in their economy by tracking their spending habits, will serve as key data to see if the tariff war is already impacting the nation.
Other than that, the JOLTS Job Openings will assess job vacancies in the U.S. — showing us if the labor market is tightening or loosening based on the number of available positions.
April 29 will also be the date when several market leaders will issue their 2025 Q1 reports. Among the list of companies we have: GM, Visa, Coca-Cola, HSBC Holdings, Pfizer, Spotify, and PayPal.
Wednesday – April 30
April 30 will mark President Trump’s 100th day in office. This symbolic milestone will help us gauge Trump’s progress, or recess in the economy, labor market, and more—during his first 100 days as President.
Moreover, Wednesday will also reveal America’s Gross Domestic Product (GDP) QoQ, which will provide insight into the country’s economic growth for the first quarter of 2025. We’ll also have the Chicago PMI and PCE Index, offering key insights into manufacturing activity and inflation trends that will help the Fed decide the next monetary stance.
Thursday – May 1st
Thursday, May 1st, will provide crucial insights into the U.S. economy as fresh labor market and manufacturing data come in. The Initial Jobless Claims report will be a key measure of employment stability, showing whether layoffs are on the rise or if the labor market remains resilient.
Meanwhile, the S&P Global Manufacturing PMI for April will assess production trends, while the ISM Manufacturing Prices report will reflect the ongoing cost pressures in the industry.
Friday – May 2nd
The most important reading on Friday, May 2nd, will be the April Unemployment Rate, which will help assess how the labor market has reacted to the possibility of a trade war with China. In addition, the day will feature the Average Hourly Earnings report and the Nonfarm Payrolls data for April, offering further insight into wage growth and job creation.
