What to Expect in the Markets This Week: Fed Speeches, Tech Earnings, and Fresh Economic Signals

Updated on 21 April 2025

This week, global markets are preparing for a convergence of high-impact events—from Federal Reserve speeches and the release of the Beige Book to Big Tech earnings and fresh U.S. economic indicators. These developments are likely to influence investor sentiment and market direction heading into May.

Fed Commentary in the Spotlight

Several Federal Reserve officials are scheduled to deliver public remarks over the coming days, offering markets critical insight into the Fed’s policy outlook. Their commentary follows a softer-than-expected March inflation print—but that relief may be short-lived, as new trade tariffs risk reigniting price pressures.

Adding to the policy picture, the Fed’s Beige Book is set for release midweek, providing a regional snapshot of business activity, labor trends, and consumer behavior. This data will help set the stage for the Fed’s May policy meeting.

Big Tech Earnings May Set the Tone

Investor focus will also shift to the Q1 earnings season, with heavyweight tech companies like Microsoft and Alphabet reporting results. These updates are expected to reflect continued investment in AI, balanced by cost discipline and macroeconomic headwinds.

Given tech’s recent leadership in equity markets, earnings surprises—positive or negative—could have a ripple effect across broader indices.

A Flood of Economic Data

A packed economic calendar this week includes key indicators that could clarify the strength of consumer and business sentiment amid ongoing uncertainty:

• New and existing home sales

• Durable goods orders

• Preliminary April PMI data

  
  

Together, these data points will help determine whether the economy is showing resilience or beginning to feel the pressure of tighter financial conditions.

What It Means for Markets

Markets are recalibrating expectations, with bond yields reflecting a more cautious outlook on potential rate cuts in 2025. Energy prices remain elevated, and safe-haven demand for gold is rising as investors hedge against volatility and geopolitical risks.

In this environment, every speech, data point, and earnings call may carry outsized significance—making this a week to watch.