Wall Street Focuses on US-China Trade Talks and May CPI [New York Stock Exchange Weekly Outlook]
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- Wall Street is expected to focus this week on the US-China trade negotiations and the release of the US May Consumer Price Index (CPI).
- The Fed stated that, depending on the CPI results, the timing of a rate cut could be postponed to the end of this year.
- Apple's Worldwide Developers Conference (WWDC) is attracting investor attention, and if announcements exceed expectations, it may have a positive impact on Apple's stock price.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
US-China Trade Representatives to Meet in London, UK on the 9th
May US CPI to Be Released on the 11th
Paying Close Attention to Possible Tariff Effects
For this week (9th–13th), Wall Street is expected to focus on the trade negotiations between the United States and China, as well as the results of the May Consumer Price Index (CPI). On the 6th (local time), former US President Donald Trump announced on Truth Social that the United States and China will hold high-level trade talks in London, UK, on the 9th. According to Trump, representing the US side will be Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and US Trade Representative (USTR) Jamieson Greer, who plan to discuss a trade agreement with the Chinese delegation.
The trade agreement mentioned by Trump refers to the decision made at the high-level US-China trade talks held in Geneva on May 10–11, where both countries agreed to significantly lower reciprocal tariffs by 115 percentage points for 90 days.
The May Consumer Price Index (CPI), scheduled for release on the 11th, is also under close watch. With the Fed set to hold the Federal Open Market Committee (FOMC) on the 17th–18th, if inflation remains high, a rate cut could be postponed to the end of this year. Bloomberg Economics predicts that core CPI, excluding food and energy, increased by 0.3% in May compared to the previous month. They forecast a 2.9% rise year-over-year from May last year. Notably, on the 6th, the US Department of Labor announced that 139,000 new nonfarm payroll jobs were created in May—exceeding the market expectation of 130,000. The robust labor market may further stimulate inflation. On the 12th, the May Producer Price Index (PPI) will be released, with consensus expecting a 0.2% increase from the previous month.
For US stock market investors, attention should also be paid to Apple's Worldwide Developers Conference (WWDC) taking place from the 9th to the 13th. If Apple unveils features that exceed market expectations, its stock price could gain further momentum.
New York—Shin-Young Park, Correspondent nyusos@hankyung.com
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