Crypto and stock markets saw some recovery last week as sentiment improved. However, many analysts think that US equities are not out of the woods yet.

Escalating global trade tensions have almost dragged stocks into a bear market. Tariff uncertainty, signs of an economic slowdown, and persistent inflation continue to impact consumer and investor sentiment.

This week also marks the final full one of economic data before the May Federal Reserve meeting.

Economic Events April 27 to May 2

Consumer confidence data will be released on Tuesday, shedding light on overall sentiment in the United States. This will be followed by jobs data, which also provides insight into labor markets and wider economic conditions.

Wednesday will see the March Core Personal Consumption Expenditures (PCE) report, which reflects the average amount of money consumers spend monthly. This information is one of the primary inflation indicators used by central bank policymakers.

Also on Wednesday is the release of the Q1 GDP Growth Annualized advance estimate, offering an early insight into changes in GDP from the previous quarter. Economists have projected that growth will remain unchanged from Q4, 2024, at 2.4% annualized.

A higher GDP reading could weigh on the expectations for Fed rate cuts, while a lower-than-expected reading or slowing of growth could provide the central bank with data to support rate reductions.

Key Events This Week:

1. CB Consumer Confidence data – Tuesday

2. March JOLTs Job data – Tuesday

3. US Q1 2025 GDP data – Wednesday

4. March PCE Inflation data – Wednesday

5. April Jobs Report – Friday

6. ~25% of S&P 500 companies report earnings

We have a very busy week…

— The Kobeissi Letter (@KobeissiLetter) April 27, 2025

Friday will see some unemployment reports released, which present the number of new jobs created during the previous month and the percentage of people actively seeking employment.

US stock futures fell late Sunday, ahead of a busy week of quarterly earnings over the coming days.

Four of the Magnificent Seven companies, Amazon, Apple, Meta, and Microsoft, will release their quarterly reports this week.

Crypto Market Outlook

Crypto markets were in decline during early trading in Asia on Monday, with total capitalization teetering on the $3 trillion level and in danger of dropping below it for the first time in a week.

Bitcoin prices held steady at around $94,000 over the weekend, but dipped below $93,000 briefly on Monday before a slight recovery. The asset remains up 7% over the past week, however.

Ethereum has retreated back below $1,800 again and remains at bear market levels. Meanwhile, XRP was bucking the trend with a 3% daily gain to reach $2.24 at the time of writing.

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