Trade is the talk of the town this week. Investors will be watching for updates on trade policy ahead of a scheduled meeting between President Donald Trump and China’s Xi Jinping, as well as a highly anticipated inflation reading, after a volatile week of trading marked by worries about bad loans at regional banks. Friday’s release of the Consumer Price Index for September, delayed by the government shutdown, is likely the last major piece of data the Federal Reserve will receive before its interest rate decision next week. Other government reports could remain delayed until there is a resolution to the budget dispute in Washington. Magnificent 7 member Tesla is set to report earnings Wednesday, when CEO Elon Musk could offer more details on the electric vehicles maker’s advances in robotics and artificial intelligence, after a torrid rally in recent months. Intel’s report will be in focus after a flurry of investments in the struggling chipmaker boosted its stock.

Spotlight Shines on EVs, AI With Reports Due From Tesla, Intel, and Automakers
Tesla’s scheduled earnings release Wednesday follows stronger-than-expected deliveries as buyers rushed to take advantage of expiring EV tax credits. Big Three automakers Ford and General Motors, also set to report this week, likely benefited from the same tailwinds, though both automakers have scaled back their EV ambitions.

Tesla CEO Elon Musk could offer more details on developments in the company’s high-tech offerings beyond EVs, including an expansion of its robotaxi services, its Optimus robots, and self-driving technology. Intel’s report, due Thursday, comes as the U.S. chipmaker’s shares have surged after a string of deals including one that saw the U.S. government take a stake and a partnership with AI leader Nvidia.

Netflix’s report comes after the streamer recently raised its prices and boosted its revenue outlook. Updates from Coca-Cola and Procter & Gamble could bring some insights into consumer spending, while Friday’s earnings from HCA Healthcare may offer a look into the hospital sector. Gold miner Newmont’s report on Thursday arrives as the precious metal has set a string of new all-time highs .

September Inflation Data Could Influence Fed Decision on Interest Rates
With many economic reports in limbo due to the federal shutdown, Friday’s CPI inflation report could be the last major piece of economic data the Fed gets before issuing a decision on interest rates next week. Forecasters expect the report to show prices continuing to rise, but at a slower pace than in August. The data could influence whether the Fed will continue with its plans to keep lowering interest rates. Fed officials have said their focus is turning to the weakening labor market, which would favor rate cuts. But higher-than-expected inflation could push them to reconsider.

While the release of new home sales data is likely to be delayed, market watchers will still see on Thursday the National Association of Realtors’ existing home sales data for September, as economists look for signs of a resurgence in an anemic housing market. The week will also bring fresh figures on consumer sentiment and Purchasing Managers Index surveys for October.

What analysts are saying about U.S. stocks
Morgan Stanley: “Our rolling recovery/early cycle thesis remains intact over the next 6-12 months. That said, we think it’s important to see clearer trade de-escalation from both sides, stability in EPS revisions, and more ample liquidity before declaring the all-clear on the risk of a further near-term correction.”

Evercore ISI: “Volatility in October 2025 will ultimately prove to be an acceleration of the AI Bull market – through earnings strength, an easing Fed, OBBB stimulus and revived capital markets cycle – not the end.”

RBC Capital Markets: “The deterioration in earnings sentiment, which surged from typical non-crisis lows in late April to typical non-crisis recovery peaks in mid-August has been one thing that has kept us on guard for a tier 1 / 5-10% pullback in US equities this fall, along with stretched valuations, weak seasonals, choppy bitcoin trends, weaker US equity flows, recent declines in our sentiment indicator, and jittery investors in our meetings that we’ve worried would be inclined to take profits soon.”

Goldman Sachs: “The backdrop of healthy earnings growth, loose financial conditions, and fallingn policy uncertainty should support strong cash spending growth next year. The recent outperformance of companies with weak balance sheets is one reflection of the equity market moving to price this friendly backdrop.”