Bitcoin (BTC) and Ethereum (ETH) Investors Eye Wall Street’s Inflation and Retail Sales Data

  • Investors on Wall Street are gearing up for a week filled with major economic data, including consumer price inflation and US retail sales, alongside other reports and corporate earnings.
  • Both inflation and retail sales data are pivotal as they have the potential to influence the Federal Reserve’s monetary policy.
  • Key earnings reports from retail giants such as Walmart and Home Depot will also be in focus.

Wall Street investors brace for a week filled with economic data and earnings reports, with potential implications for Federal Reserve’s monetary policy.

Economic Events of the Week

On May 14 (Tuesday), the market will witness the release of the Producer Price Index (PPI) for April. The same day, Fed Chair Jerome Powell is expected to make a speech at an event. The following day, data on Consumer Price Index (CPI) for April and US retail sales figures for April will be declared. Industrial production data for April is due for release on May 16 (Thursday).

Corporate Earnings Reports

Several companies are due to report quarterly earnings in the week ahead, including Petrobras, Tencent Music, Agilysys, Home Depot, Alibaba, Sony, Tencent Holdings, Flutter Entertainment, Cisco Systems, Grab Holdings, Spire Global, Hut 8, Walmart, Applied Materials, Deere, JD.com, Baidu, Take-Two Interactive, and Under Armour.

Upcoming Tech Events

Microsoft-backed OpenAI is expected to announce updates on Monday. Alphabet’s Google will hold its annual I/O developer conference on May 14, where it is expected to showcase its latest AI tools and AI-linked enhancements to products.

US Markets Last Week

US equity markets rose on Friday amid strong corporate earnings and hopes that the Federal Reserve interest rate cuts are near. The Dow Jones Industrial Average rose 0.32%, the S&P 500 gained 0.17% and the Nasdaq Composite eased 0.03%. The US dollar rose to 155.86 yen from 155.46 Japanese yen. The euro fell to $1.0774 from $1.0782. The yield on the 10-year Treasury surged to 4.50% from 4.46%. The benchmark US crude oil for June delivery fell $1 to $78.26 per barrel on Friday. Brent crude for July delivery lost $1.09 to $82.79 per barrel. Gold for June delivery gained $34.70 to $2,375 per ounce. Silver for July delivery added 14 cents to $28.51 per ounce.

Conclusion

With a week filled with economic data and earnings reports, investors will be keeping a close eye on Wall Street. The data released could potentially influence the Federal Reserve’s monetary policy, making it a crucial week for investors and market watchers alike.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.
spot_imgspot_imgspot_imgspot_img

Latest News

Shiba Inu (SHIB) Surges as Golden Cross Appears on Hourly Charts: Key Insights

The golden cross, a popular technical indicator, has recently...

US Economic Data Triggers Bitcoin (BTC) Price Volatility: Key Insights

The cryptocurrency industry closely monitored the release...

Bitcoin (BTC) Mirrors 2017 Bull Run: Current Trends Indicate Potential Surge

Bitcoin's (BTC) current scenario mirrors...

Ethereum (ETH) Whales Resurface: Major Investors Accumulate Amid Market Shifts

A recent surge in Ethereum addresses holding...

Bitcoin (BTC) Surges to 16-Month High: What This Means for Future BTC Prices

Bitcoin’s futures open interest climbs to its...
spot_imgspot_imgspot_imgspot_img

PRO Analysis

FTSE 100 Index Analysis: Key Insights for May 30, 2024 – Market Trends and Projections

Cryptocurrency markets have been experiencing...

AI Predicts 2024 End-of-Year Surge for XRP and SHIB Coins: Expert Analysis Inside!

The crypto markets have been a rollercoaster...

Crypto Market Daily: BTC, ETH, NOT, AR, XRM Price Analysis and Trends

Cryptocurrency markets witnessed significant volatility today, with...
Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
spot_imgspot_imgspot_imgspot_img

US Economic Data Triggers Bitcoin (BTC) Price Volatility: Key Insights

The cryptocurrency industry closely monitored the release of two significant data points from the United States today. These included the US...

Bitcoin (BTC) Mirrors 2017 Bull Run: Current Trends Indicate Potential Surge

Bitcoin's (BTC) current scenario mirrors the 2017 bull run. On-chain analysis platform Glassnode discussed Bitcoin's current state...

Ethereum (ETH) Whales Resurface: Major Investors Accumulate Amid Market Shifts

A recent surge in Ethereum addresses holding 10,000 or more ETH signals a major shift from distribution to accumulation. This trend...