The upcoming week will be filled with important diplomatic talks as several officials meet to discuss the ongoing conflicts in Ukraine and the Middle East. Investors will also anticipate key economic data, including inflation and business activity reports.
After meeting with the Ukrainian team earlier today, the United States delegation will meet with Russia's officials tomorrow in Riyadh to discuss the conflict in Ukraine, with US Special Envoy Steve Witkoff claiming that he expects "real progress" from the talks. The US will also reportedly negotiate the Iran nuclear issue with a senior Israeli delegation when it visits the White House early next week. Meanwhile, European Union High Representative for Foreign Affairs and Security Policy Kaja Kallas is set to travel to Israel and Palestine tomorrow to discuss the conflict in the Gaza Strip.
The week ahead will also bring several key economic reports. The United Kingdom, Australia, and Japan are all set to release their reports on consumer inflation, while the US will release the Personal Consumption Expenditures (PCE) report, which the US Federal Reserve uses to gauge the country's inflation. Spain, the UK, and the US will publish their Gross Domestic Product (GDP) reports, while the latter two will also release reports on their business activity, with Germany and the Eurozone releasing their business activity reports, as well.
As the earnings season draws to a close, video game retailer GameStop Corp. will release its earnings report for the fourth quarter of fiscal 2024 on Tuesday.
