What To Expect in the Markets This Week

March inflation data and Big Bank earnings are among the major items on this week’s economic calendar as investors look for signals about what’s next for markets following a chaotic end to last week.

Friday ended a two-day run that will end up in the history books, the major US indexes logging their biggest weekly declines since the start of the Covid pandemic. Investors are now seeking clues for what might be next on prices and economic health following President Donald Trump’s tariff announcement, which is expected to take effect Wednesday. China announced 34% retaliatory tariffs that are scheduled to begin on Thursday.

Investopedia kicked off its weekly markets coverage on Sunday night.

What else is on tap? Friday earnings reports from JPMorgan Chase (JPM), Wells Fargo (WFC), and BlackRock (BLK) are among the financial institutions on the calendar. Delta Air Lines (DAL) and CarMax (KMX) also are scheduled to deliver earnings earlier in the week. 

Federal Reserve meeting minutes are expected to provide insight into economic conditions and the path of interest rates. Data on consumer sentiment and credit levels will be closely watched amid uncertainty over inflation and tariffs. 

Monday, April 7

• Consumer credit (February)
• Levi Strauss (LEVI), Greenbrier (GBX), and Dave & Buster’s (PLAY) are scheduled to report earnings

Tuesday, April 8

• NFIB optimism index (March)
• RPM International (RPM), Cal-Maine Foods (CALM), WD-40 (WDFC), Tilray Brands (TLRY), Mama’s Creations (MAMA), and Aehr Test Systems (AEHR) are scheduled to report earnings

Wednesday, April 9

• U.S. tariffs scheduled to take effect
• Wholesale inventories (February)
• March FOMC meeting minutes
• Constellation Brands (STZ), Delta Air Lines, and Simply Good Foods (SMPL) are scheduled to report earnings

Thursday, April 10

• Chinese tariffs scheduled to take effect
• Initial jobless claims (Week ending April 5)
• Consumer Price Index (March)
• Chicago Fed President Austan Goolsbee is scheduled to deliver remarks
• CarMax is scheduled to report earnings

Friday, April 11

• Producer Price Index (March)
• Consumer sentiment – preliminary (April)
• New York Fed President John Williams is scheduled to deliver remarks
• JP Morgan Chase, Wells Fargo, BlackRock, and Bank of New York Mellon (BK) are scheduled to report earnings

Inflation in Focus Following Tariffs Announcement as Investors Look for Consumer Data, Fed Remarks

March inflation data will be in the spotlight as market participants keep an eye on prices in the wake of President Trump’s sprawling tariffs, which are expected to take effect on Wednesday, reigniting recession fears.

Economists at Wells Fargo expected the Consumer Price Index to remain unchanged in March, with that data’s scheduled release for Thursday. The sideways movement comes as inflation has edged lower recently, including a steeper-than-expected decrease in February’s CPI reading. 

Inflation has been a key reason cited by Federal Reserve officials for keeping interest rates at their current levels. Wednesday’s scheduled release of the minutes from the Fed’s most recent March meeting will provide more insight into how current economic conditions are affecting the way that central bankers view interest rate levels.  Chicago Fed President Austan Goolsbee and New York Fed President John Williams are also scheduled to deliver remarks this week. 

On Friday, the Producer Price Index (PPI) for March will give investors more information about prices at the wholesale level, potentially feeding into consumer prices down the line. Investors are also expecting data on wholesale inventory levels on Wednesday. 

Another key inflation measurement will come in Friday’s scheduled release of consumer sentiment data, which will include consumer price expectations that can have an influence on the direction of inflation.

Consumer and business sentiment has also been closely watched after Trump’s tariffs policy has raised worries over price increases and worsening economic conditions. Small business sentiment is expected to come on Tuesday as recent surveys have shown that business owners are also starting to sour on the economy. 

Big Bank Reports Kick Off First-Quarter Earnings Season

Big Banks will lead off the latest earnings season with a slew of scheduled reports later this week, giving investors their first look at first-quarter earnings. Analysts will be watching to see if banks can continue to drive growth in areas like investment banking and net interest income. 

JPMorgan Chase is expected to kick off a string of reports from financial firms with its earnings report Friday, coming after the world’s largest bank by market capitalization delivered a surprising jump in profits last quarter. JPMorgan grew its investment banking revenue while its net interest income also increased. 

BlackRock’s announcement scheduled the same day comes after the firm posted a record quarter for assets under management. Investors likely will be listening for updates on Blackrock’s $30 billion AI infrastructure funding project with Microsoft (MSFT), Nvidia (NVDA), Elon Musk’s xAI and other firms.

Wells Fargo’s scheduled Friday report comes as its net income topped analyst estimates but the bank just missed its revenue target last quarter. 

Before Friday’s financial services reports, Delta Air Lines’ scheduled report on Wednesday comes as the carrier has lowered its projections for the quarter on weakening travel demand amid economic uncertainty.  The lowered outlook came after Delta reported a profitable prior quarter on stronger sales of premium offerings. 

Levi Strauss has also warned that macroeconomic conditions could hurt its 2025 sales, with the jeans makers’ quarterly report scheduled for Monday. 

Egg seller Cal-Maine’s scheduled report on Tuesday comes amid interest in prices for that food stock, becoming a symbol in the battle against inflation and a political talking point. But Cal-Maine has benefited from increased demand for eggs amid a bird flu outbreak, posting better-than-expected results in the previous quarter due in part to higher egg prices. 

Other noteworthy reports this week include Rust-Oleum maker RPM International on Tuesday, Corona beer brewer Constellation Brands on Wednesday, and online car seller CarMax on Thursday.