Financial markets are preparing for a week of closely watched events, including the outcome of U.S.–China trade talks held in Geneva, where U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer met with Chinese Vice Premier He Lifeng. U.S. officials described the discussions as making 'substantial progress,' but China has yet to comment and further details are expected. Key U.S. economic data releases include the April Consumer Price Index (CPI) on Tuesday, the Producer Price Index (PPI) and retail sales on Thursday, and initial jobless claims, the NY Fed Manufacturing Survey, and the Philly Fed Manufacturing Survey, all on Thursday. The OPEC monthly report is due Wednesday, and the University of Michigan Consumer Sentiment data will be released on Friday. Analysts expect the April CPI to rise 0.3% month-over-month and 2.8% year-over-year on a core basis. Federal Reserve Chair Jerome Powell is scheduled to speak on Thursday, following the central bank's recent decision to keep interest rates unchanged. Policymakers have indicated a wait-and-see approach, citing the need for more data to assess the impact of tariffs on inflation and economic activity. The week also features a busy corporate earnings calendar, with major companies such as Walmart, Alibaba, JD.com, Cisco, Applied Materials, Deere, Tencent, and others set to report quarterly results. About 3% of S&P 500 companies are reporting earnings, providing insight into the retail, technology, and e-commerce sectors. Last week, the S&P 500 fell 0.4%, the Nasdaq decreased 0.2%, the Dow Jones declined 0.2%, and the Russell 2000 rose 0.1%. The U.S. Dollar index increased 0.4% for the third consecutive week, 10-year Treasury yields rose by 8 basis points, the VIX fell 3%, WTI crude oil dropped 4.5%, silver rose 2.0%, gold fell 2.7%, and Bitcoin gained 7.3%. Other notable events include President Trump's trip to the Middle East, UK employment data, and the European Commission's economic forecasts. President Trump has also floated the idea of cutting China tariffs to 80%.