#TrumpVisitsChinaMay13 Trump's meeting with Xi in Beijing stands out as the main geopolitical event of the week. The US administration will demand that China leverage its influence over Iran.



White House officials indicate that the meeting will address trade tensions as well as the Iran issue. Beijing's purchase of crude oil from Tehran is seen as a leverage point.

Trump rejected Iran's counter-offer via Truth Social, stating it was "COMPLETELY UNACCEPTABLE." In a statement from the Oval Office, he said the ceasefire was "on life support" and "incredibly weak."

Tehran's proposal focuses on ending the war on all fronts and lifting sanctions. The nuclear program has been left as a secondary agenda item.

On the institutional front, Fed Chairman Powell's term ends on May 15th. The Senate vote on Kevin Warsh is being watched as a critical variable this week.

On the macroeconomic calendar, April's #CPI data will be released this week. The market is pricing in the impact of the data on the inflation path and #Fed policy.

Factors supporting the market include Beijing diplomacy and Yardeni Research raising its year-end S&P 500 target to 8,250. The firm describes the strength in analyst earnings estimates as "unprecedented."

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YamahaBlue
ยท 1h ago
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not_queen
ยท 2h ago
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not_queen
ยท 2h ago
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world_oneday
ยท 2h ago
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Yunna
ยท 2h ago
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