Wall Street expects rate hikes are off the table for now. Next week’s inflation data will test that thesis

Next week's inflation data will be the first major test for markets after the Federal Reserve took a dovish stance on interest rates, at a time when bond yields also look to be stabilizing. Stocks have been churning higher lately after Fed Chair Jerome Powell indicated rate hikes are likely off the table , a position that investors expect is a bullish event for equities.

Housing Market Index Earnings: Progressive , Cisco Thursday May 16 8:30 a.m. Building Permits preliminary 8:30 a.m. Continuing Jobless Claims 8:30 a.m. Export Price Index 8:30 a.m. Housing Starts 8:30 a.m. Import Price Index 8:30 a.m. Initial Claims 8:30 a.m. Philadelphia Fed Index 9:15 a.m. Capacity Utilization 9:15 a.m. Industrial Production 9:15 a.m. Manufacturing Production Earnings: Take-Two Interactive Software , Applied Materials , Walmart , Deere Friday May 17 10 a.m.

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