PiCK

Wall Street Watches U.S.-Iran Ceasefire Talks, China GDP as Bank Earnings Roll In

Source

Korea Economic Daily

Summary

This week, New York stocks are expected to hinge on developments in U.S.-Iran ceasefire talks, the March PPI, and the Fed's Beige Book.
Earnings from major financial companies including Goldman Sachs, Citigroup, Wells Fargo, JPMorgan Chase and BlackRock, along with Netflix results, are expected to be key market drivers.
Shanghai stocks are expected to be guided by major Chinese indicators including first-quarter GDP growth, March retail sales and industrial production, as well as CPI and PPI readings.

Forecast Trend Report by Period

Markets Watch U.S.-Iran Ceasefire Talks

Goldman Sachs, Wells Fargo Among Firms Reporting Results

China to Release First-Quarter GDP on April 16

New York stocks this week, from April 13 to April 17, will likely be driven by how tensions between the U.S. and Iran unfold. Vice President JD Vance returned from ceasefire talks with Iran in Pakistan on April 12 without a breakthrough. Still, with further negotiations possible, the prospects for a deal remain alive.

On the economic calendar, investors will focus on the March producer price index due on April 14. The wholesale inflation gauge offers a read on the future path of U.S. inflation. The consensus forecast calls for a 1.2% increase from the previous month. Traders will also watch the Federal Reserve's Beige Book, due on April 15, for a snapshot of economic conditions across the US. Earnings are scheduled from a string of major financial firms: Goldman Sachs on April 13; Citigroup, Wells Fargo, JPMorgan Chase and BlackRock on April 14; Morgan Stanley and Bank of America on April 15; Bank of New York Mellon on April 16; and State Street on April 17. Netflix is also due to report on April 16.

Shanghai stocks are set to take their cue from China's first-quarter economic data and the start of earnings season. The key event is first-quarter gross domestic product data due on April 16. Markets are watching whether growth matches the government's 4.5% to 5.0% target range in the opening year of the 15th Five-Year Plan. March retail sales and industrial production, also due on April 16, will provide a gauge of the recovery in domestic demand.

Inflation data will be another focus. China is due to release consumer and producer price indexes on April 15. The main question is whether producer prices will halt a 41-month decline and turn higher.

New York — Park Shin-young, Korea Economic Daily correspondent nyusos@hankyung.com