PCE Inflation Data, Retail Earnings: What to Watch in the Next Week

The note previews the market calendar for the week beginning after Memorial Day, highlighting U.S. markets closed May 25 and reopening Tuesday. Investors will focus on U.S. April personal-consumption-expenditures (PCE) inflation data and retail earnings from chains including Costco and Dollar Tree for clues on consumer resilience and inflation momentum. Overseas, bond markets are watching inflation prints from Japan, Australia and Germany and the Bank of Korea’s policy meeting for global rate signals. The piece frames these data and earnings as key inputs that could influence interest-rate expectations and equity sentiment — coming on the heels of the S&P 500’s longest weekly winning streak since 2023.