The CPI data for China and the United States is about to be released, with U.S. inflation potentially continuing to rise due to energy impacts.
At 09:30 Beijing Time on May 11, China will release the CPI and PPI data for April. At 20:30 Beijing Time on May 12, the United States will announce its CPI data for April; on May 13 at 20:30, the PPI data will be released.
Regarding domestic data, CICC forecasts that growth rates of internal and external demand in April may diverge. Specifically, consumption and investment growth rates may marginally slow, while export growth is expected to rebound. Amidst the Middle East conflict, the year-on-year growth rate of PPI may further rise to 1.8%, and the CPI growth rate may stabilize at around 1.0%. This implies that the GDP deflator growth rate for April could exceed 1%.
The market expects that U.S. April CPI will be driven up by rising energy prices amid the Middle East situation, following a sharp month-on-month increase of 0.9% in March, with a further rise of 0.6%. In their report dated May 8, economists at Goldman Sachs postponed their forecast for the Federal Reserve's next two rate cuts by one quarter each, now expecting them to occur in December 2026 and March 2027, respectively, due to inflation proving more persistent than anticipated. They also predict that core PCE inflation in the U.S. this year will be closer to 3% rather than the Fed's target of 2%.
Will Trump visit China on May 14-15? The Foreign Ministry stated that both sides are maintaining communication regarding the matter.
In March this year, according to CCTV News, when asked about US President Trump's statement that he would visit China in mid-May, Foreign Ministry Spokesperson Lin Jian responded during a regular press conference on March 26, noting that head-of-state diplomacy plays an irreplaceable strategic role in guiding Sino-US relations, and that both sides were in communication regarding President Trump's visit. On May 7, US media reported that the US government had invited CEOs of major companies such as NVIDIA, Apple, Exxon Mobil, and Boeing to join the trip.
Federal Reserve Chair Powell’s term is ending, and Kevin Warsh’s nomination as successor is set for a final vote.
On April 29, 2026, the U.S. Senate Banking Committee voted 13-11 along party lines to approve Kevin Warsh's nomination as the next Federal Reserve Chair. This nomination was subsequently submitted to the full Senate, with the final confirmation vote expected during the week of May 11 to ensure he can preside over the June interest rate meeting. Meanwhile, Powell’s term will expire on May 15. However, due to ongoing criminal investigations involving the White House, Powell will remain on the Federal Reserve Board and could theoretically stay until early 2028.
Leading tech giants such as Tencent, Alibaba, JD.com, and SMIC are releasing earnings reports in concentration, allowing the market to assess the recovery prospects of AI and semiconductor sectors.
Hong Kong stocks JD.com-SW (09618.HK)Earnings reports will be announced on May 12,Tencent (00700.HK) 、$Alibaba-W (09988.HK)$with results to be disclosed on May 13. Their performance will directly impact valuation sentiment for Hong Kong-listed technology stocks.$SMIC (00981.HK)$、Huahong Semiconductor (01347.HK) The two leading foundries are set to release their results simultaneously on May 14, in the new energy vehicle sector.$Leapmotor (09863.HK)$, autonomous driving companies$WeRide-W (00800.HK)$, as well as online music platforms Tencent Music-SW (01698.HK) will also disclose their financial results. The competitive landscape and profitability paths in their respective sectors are worth noting.
In the US stock market, Circle, a leading stablecoin company in the US, $Circle(CRCL.US)$、Hims & Hers Health(HIMS.US)、 $Oklo Inc(OKLO.US)$ 、 Applied Materials (AMAT.US)、 Figma Inc (FIG.US) , among other companies, will also successively announce their earnings reports.
Continue to monitor the developments in the Iran situation; Trump previously indicated that an agreement might be reached during the week of May 11.
The US-Iran situation presents a complex scenario characterized by 'fighting while talking, sanctioning while engaging.' According to previous reports by CCTV News, Pakistani sources claimed that the US and Iran were close to reaching a ceasefire memorandum of understanding, with Trump suggesting that an agreement could be possible during the week of May 11. However, direct clashes between the US and Iran erupted again near the Strait.
According to the Islamic Republic News Agency (IRNA), Khalil Sherhrami, Iran's ambassador to Armenia, emphasized that Iran is willing to reach an agreement through negotiations but requires clear assurances that the US will adopt a rational and logical approach, ensuring no further military aggression against Iran. He also stressed that Iran opposes selective interpretations of international law and will not allow its nation to be deprived of the right to peaceful nuclear capabilities.
Duan Yongping and Berkshire Hathaway will reveal their latest US stock holdings.
Friday marks the filing deadline for institutional investors to disclose their U.S. equity holdings as of March 31 (Form 13F). Investors in China are particularly interested in the portfolio disclosures from Duan Yongping and Berkshire Hathaway, which has recently undergone a leadership change. Rumors suggest that under the new CEO Abel's leadership, Berkshire liquidated all of the approximately $15 billion portfolio previously managed by Todd Combs. During Buffett’s era, Combs and Ted Weschler, who is still in his position, jointly managed about 10% of Berkshire’s stock portfolio, while Buffett himself decided the remaining 90%.
New York Federal Reserve President Williams and several other Fed officials will deliver speeches.
On May 15, permanent FOMC voter and New York Federal Reserve President Williams participated in a discussion. In 2026, FOMC voter and Cleveland Federal Reserve President Hamaek gave opening remarks at an online seminar on central bank independence.
On the 14th, 2026 FOMC voter and Dallas Federal Reserve President Logan participated in a dialogue on the energy industry. 2026 FOMC voter and Minneapolis Federal Reserve President Kashkari attended a discussion hosted by the local chamber of commerce.
On the 13th, 2028 FOMC voter and Boston Federal Reserve President Collins spoke at the Boston Economic Club. Chicago Federal Reserve President Goolsbee participated in a Q&A session hosted by the local chamber of commerce.
On the 12th, permanent FOMC voter and New York Federal Reserve President Williams participated in a panel discussion on monetary policy.
Key earnings calendar for the new week.
Monday (May 11)
Keywords: China’s April CPI & PPI, Lede Robot IPO, Circle earnings report.
In terms of economic data, China’s April PPI and CPI will be released at 9:30 AM Beijing time.
Regarding IPOs, $Ledong Robotics (01236.HK)$will be listed.
In terms of performance, Hong Kong stocks$Tuya Inc-W (02391.HK)$will announce its financial report;
The US stock market$Circle(CRCL.US)$、$Barrick Mining(B.US)$、The Mosaic Company (MOS.US)will announce earnings before the U.S. market opens;Hims & Hers Health(HIMS.US)、$AST SpaceMobile(ASTS.US)$、$Figure Technology Solutions(FIGR.US)$、$Plug Power(PLUG.US)$will release earnings after the US stock market closes.
Tuesday (May 12th)
Keywords: JiTai Technology, IMPACT Therapeutics grey market trading, JD.com, Tencent Music, OKLO earnings reports, US April CPI
In terms of economic data, the US April CPI will be released at 20:30 Beijing time.
In terms of financial events, at 15:15 Beijing time, Williams, Permanent Voting Member of the FOMC and President of the New York Federal Reserve, will participate in a panel discussion on monetary policy.
Regarding IPOs, at 16:15 Beijing time,$Jitai Technology-P (07666.HK)$、$IMPACT Therapeutics-B(07630.HK)$will begin grey market trading ahead of its listing on the Hong Kong Stock Exchange.
In terms of performance, Hong Kong stocksJD.com-SW (09618.HK)、Tencent Music-SW (01698.HK)、$JD Logistics (02618.HK)$Companies set to release earnings reports include; in the US stock market,$Tencent Music (TME.US)$、$JD.com(JD.US)$、$Venture Global(VG.US)$、$Sea(SE.US)$will announce earnings before the U.S. market opens;$Oklo Inc(OKLO.US)$will release earnings after the US stock market closes.
Wednesday (May 13th)
Keywords: JiTai Technology, Yingpai Pharmaceuticals IPO, Tencent, Alibaba, NEBIUS, WeRide earnings reports, US April PPI
In terms of economic data, the US April PPI will be released at 20:30 Beijing time.
Regarding financial events, at 01:00 Beijing time, Chicago Fed President Goolsbee will participate in a Q&A session hosted by the local chamber of commerce; at 23:30 Beijing time, 2028 FOMC voter and Boston Fed President Collins will deliver a speech at the Boston Economic Club.
Regarding IPOs, $Jitai Technology-P (07666.HK)$、$IMPACT Therapeutics-B(07630.HK)$will be listed.
In terms of performance, Hong Kong stocksTencent (00700.HK)、 $Alibaba-W (09988.HK)$、$WeRide-W (00800.HK)$released its earnings report; US stock market$Alibaba(BABA.US)$、$WeRide(WRD.US)$、$NEBIUS(NBIS.US)$、Atour Group (ATAT.US)Revealed earnings report before the US stock market opened;Cisco (CSCO.US), 、 $BitGo Holdings(BTGO.US)$ Released earnings report after the US stock market closed.
Thursday (May 14)
Keywords: Trump's potential visit to China, SMIC and Huahong Semiconductor earnings reports, US April retail sales month-over-month rate, Cerebras listed on the US stock market
In terms of economic data, at 20:30 Beijing time, the number of initial jobless claims in the US for the week ending May 9 and the US April retail sales month-over-month rate will be released.
In terms of financial events, Trump may visit China from May 14 to May 15; at 01:15 Beijing time, Kashkari, a voting member of the 2026 FOMC and President of the Minneapolis Federal Reserve, will participate in a discussion hosted by a local chamber of commerce; at 07:00 Beijing time, Logan, another voting member of the 2026 FOMC and President of the Dallas Federal Reserve, will attend a dialogue on the energy industry.
In terms of performance,$SMIC (00981.HK)$、Huahong Semiconductor (01347.HK)、$Ali Health(00241.HK)$、$China Gold International Resources(02099.HK)$will release its earnings report; U.S. stocksBullish (BLSH.US)、$Ondas(ONDS.US)$、Lithium Americas (LAC.US)will announce earnings before the U.S. market opens;Applied Materials (AMAT.US)、Figma Inc (FIG.US)、$Gemini Space Station(GEMI.US)$will release earnings after the US stock market closes.
In terms of new stocks,$Cerebras Systems Inc.(CBRS.US)$Will be listed on the U.S. stock exchange.
Friday (May 15th)
Keywords: Leapmotor earnings report, Yifei Technology grey market
In terms of economic events, Powell's term ends; at 01:00 Beijing time, 2026 FOMC voter and Cleveland Fed President Hamak will deliver opening remarks at an online seminar on central bank independence; at 05:30, Fed Governor Barr will give a speech; at 05:45, permanent FOMC voter and New York Fed President Williams will participate in a discussion.
In terms of performance, Hong Kong stocks$Leapmotor (09863.HK)$、$Huazhu Group-S(01179.HK)$Will announce earnings reports;
In terms of new stocks, at 16:15 Beijing Time, $Yifei Technology (06871.HK)$pre-listing grey market trading.
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Wishing all fellow investors a successful week ahead!
Editor/joryn