Key Economic Indicators To Watch This Week: Key Inflation Data, Big Bank Reports and Tariff Fallout

Key Takeaways

• March consumer and producer price inflation data will be key to assessing inflation trends.
• Earnings reports from major financial institutions, including JPMorgan Chase, Wells Fargo, BlackRock and BNY Mellon, are due this week.
• Investors will closely monitor gold price movements and the VIX for indications of market volatility.

Markets are on edge this week following the steepest U.S. stock selloff since the COVID-19 crash, triggered by President Donald Trump’s sweeping tariffs, which will take effect on Wednesday.

Now, all eyes are on key inflation data, Federal Reserve signals and Big Bank earnings as traders search for footing in a week that could redefine the market’s path forward.

Inflation and Tariffs in Focus

With global markets under intense scrutiny, investors are turning their attention to key economic reports this week, starting with Thursday’s release of the March Consumer Price Index (CPI) and Friday’s Producer Price Index (PPI), both critical gauges of inflation.

Wells Fargo economists predict that inflation will remain stable in March , continuing the trend of easing pressures observed in recent months. February’s CPI, in particular, surprised many with a sharper-than-expected drop, fueling optimism about moderating price increases.

As these reports loom, attention will also shift to the Federal Reserve’s March meeting minutes, set to be released on Wednesday.

Market participants will look for any hints regarding the central bank’s next moves on interest rates. Additionally, remarks from Fed officials in the coming days are expected to shed further light on the broader economic outlook.

Alongside inflation data, consumer sentiment and credit reports will offer a fuller picture of economic health. On Tuesday, the NFIB small business optimism index will provide insight into the confidence of one of the most vital segments of the U.S. economy.

Big Banks Kick Off Earning Season

The first-quarter earnings season begins in earnest this week, with reports from major financial institutions, including JPMorgan Chase, Wells Fargo, BlackRock and Bank of New York Mellon, scheduled for Friday.

JPMorgan Chase, the world’s largest bank by market capitalization, will set the tone for the sector.

Investors will be looking for updates on the bank’s strong performance from the previous quarter, which saw a surprising surge in profits driven by growth in investment banking revenue and net interest income.

On the same day, BlackRock will also report its earnings following a record-breaking quarter for assets under management.

Investors are particularly keen on updates on the firm’s ambitious $30 billion AI infrastructure initiative, which involves major partners like Microsoft (MSFT), Nvidia (NVDA) and Elon Musk’s xAI.

Other major earnings this week include Delta Air Lines on Wednesday, CarMax on Thursday and Levi Strauss and Cal-Maine Foods later in the week.

As investors closely monitor these reports, many will be looking for insights into how the broader economy—including the ongoing impacts of tariffs and inflation—is affecting various sectors.

Eyes on Gold and VIX

Gold (XAU/USD) saw modest buying near $2,972 early Monday, halting its pullback from last week’s record high.

Safe-haven demand was driven by global market turmoil following President Trump’s sweeping tariffs and continued buying by China’s central bank, which has now purchased gold for five consecutive months.

Falling Treasury yields—amid expectations the Fed may resume rate cuts—supported gold, while a weaker USD added to the metal’s appeal. However, long-position liquidation to cover broader market losses has capped upside momentum.

At the same time, the Volatility Index (VIX) surged by 50%, reaching 50 and breaching key resistance levels, signaling heightened market stress. The 10-year Treasury yield also fell sharply, dropping below 4.16% and nearing significant support at 3.90%.

The widening divergence between the VIX and Treasury yields highlights deepening concerns about market instability.

Both Gold and VIX will be key indicators to watch closely this week as they could signal further market movements.