Markets Brace for Impact as Global Tariffs, NVDA Earnings, and Fed Speeches Dominate the Week
Global markets face a pivotal week with multiple macroeconomic catalysts. The Supreme Court's 6-3 ruling against broad presidential tariff powers under IEEPA law has triggered $175 billion in potential import refund claims, while the WHITE House prepares new 10% global tariffs under Section 122 of the Trade Act of 1974.
Economic indicators flood the calendar: Tuesday's Conference Board sentiment data (forecast 88.0 vs prior 84.5) arrives against persistent inflation, with December's PCE showing 0.4% monthly gains in both headline and Core measures. Friday's Producer Price Index takes center stage, expected at 0.3% MoM after December's 0.5% reading, while core PPI previously registered 3.3% annually.
Manufacturing data paints a mixed picture - December durable goods fell 1.4%, with regional Fed indices showing contraction (Dallas at -1.2, Richmond at -6). Housing metrics and employment data round out the week's key releases.
