U.S. stocks strengthen as gold rebounds; this week's U.S. CPI report may test interest rate cut expectations.

Major U.S. stock indexes reportedly closed higher this week, with the S&P 500 hitting a new high in more than three months on Friday. The Dow Jones also rose to a three-month high. A better-than-expected non-farm payrolls report eased market concerns about the economy, while tech stocks continued to rally as Tesla (TSLA.O) rebounded from Thursday's sharp decline. However, as of June 4, U.S. equity funds saw outflows for the third week in a row due to persistent concerns about U.S. trade policy. On the commodities front, gold prices fell considerably on Thursday and Friday, but were still up overall for the week, closing at $3,311.68 an ounce. Notably, despite the slightly better-than-expected number of new non-farm payrolls in the U.S. in May, Trump once again put pressure on the Fed on social media to cut interest rates by 100 basis points. Here are the key points that the market will focus on in the new week: At 09:30 on Monday, China's CPI YoY for May; Monday 22:00, U.S. April wholesale sales month-on-month; At 23:00 on Monday, the 1-year inflation expectations of the New York Fed in May; On Tuesday, to be determined, China's M2 money supply for May y/y; At 14:00 on Tuesday, the UK three-month ILO unemployment rate in April, the unemployment rate in May, and the number of jobless claims in May; At 15:10 on Tuesday, ECB Governing Council member Villeroy spoke; At 18:00 on Tuesday, the NFIB Small Business Confidence Index for May in the United States; At 20:30 on Wednesday, the US CPI data for May At 22:30 on Wednesday, the EIA crude oil inventories, Cushing crude oil inventories, and strategic petroleum reserve inventories for the week to June 6 in the United States At 14:00 on Thursday, the UK's three-month GDP monthly rate and manufacturing output monthly rate in April At 14:00 on Thursday, the seasonally adjusted merchandise trade balance and industrial production monthly rate in the United Kingdom in April At 20:30 on Thursday, the number of initial jobless claims in the United States for the week to June 7, the US PPI for May at 14:00 on Friday, and the final value of the German CPI monthly rate in May At 14:00 on Friday, the final value of France's CPI monthly rate in May At 22:00 on Friday, the preliminary expected one-year inflation rate in the United States in June, and the preliminary value of the University of Michigan Consumer Sentiment Index in June The US CPI report for May to be released next Wednesday will test the market's optimism about a rate cut, as it may show that the recent downward trend in inflation has stalled. In other economic data, the UK jobs report for the three months to April will be released next Tuesday, and the market will be watching for more signs of layoffs.