After Trump announced his tariff proposal, market sentiment sharply deteriorated, exacerbating concerns about global growth expectations and causing a sharp drop in the US stock market. On Friday, the market value of the S&P 500 index evaporated another $1.5 trillion, with a cumulative loss of up to $3.5 trillion over two trading days. Large tech stocks fell, with the Nasdaq index closing down more than 20% from its record high in December last year, entering a technical bear market. Looking ahead to next week, the outlook for tariffs is far from clear. Investors still need to focus on potential agreements between the United States and other countries, which can help improve market sentiment. If no agreement is reached and more countries respond with tariffs, the market may face another painful week. The following are the key points that the market will focus on in the new week:
On Wednesday at 02:00, San Francisco Federal Reserve Chairman Daly attended a dialogue event titled "Federal Reserve Economic Outlook and Work"
At 23:00 on Wednesday, Richmond Fed President Barkin delivered a speech
On Wednesday at 21:30, Dallas Fed President Logan delivered a welcome speech at an event
At 02:00 on Thursday, the Federal Reserve released the minutes of its March monetary policy meeting
Thursday 20:30, US March CPI data, initial jobless claims for the week ending April 5th
At 0:00 on Friday, Chicago Fed President Goolsby delivered a speech at the New York Economic Club
At 00:30 on Friday, Philadelphia Fed President Huck gave a speech on financial technology
Friday 20:30, PPI data for March in the United States
On Friday at 22:00, St. Louis Fed President Moses Lem delivered a speech on the US economy and monetary policy
Friday 22:00, preliminary expectations for the one-year inflation rate in the United States for April, and preliminary expectations for the University of Michigan Consumer Confidence Index for April
On Friday at 23:00, New York Fed President Williams delivered a speech on the economic outlook and monetary policy
Considering all the current uncertainties, US dollar traders will focus on the US March CPI data scheduled to be released next Thursday. Tariffs not only pose a threat to economic activity, but also pose an upward risk to inflation. If CPI data accelerates further, this may prompt traders to reduce some of their interest rate cut bets. In addition to CPI data, PPI data and inflation expectations may also become key market drivers.