Markets enter a pivotal week as President Trump abruptly canceled U.S. diplomatic travel to Pakistan for Iran talks, calling off the trip by Special Envoy Steve Witkoff and son-in-law Jared Kushner just as they prepared to depart for Islamabad. Trump's statement that "we have all the cards" and refusal to allow the "18 hour flight" signals hardening negotiating posture, while Iran's foreign minister departed Pakistan Friday after brief meetings with mediators, with Tehran reiterating it won't hold direct talks while the U.S. blockade of Iranian ports continues. The diplomatic stalemate intensifies energy market uncertainty heading into Wednesday's Federal Reserve meeting at 2:00pm where Chair Powell must navigate impossible policy choices between supporting economic weakness and containing energy-driven inflation. The week delivers an extraordinary earnings convergence with all mega-cap technology giants—Amazon (AMZN), Microsoft (MSFT), Meta (META), Google (GOOGL), and Apple (AAPL)—reporting Wednesday and Thursday. Thursday's explosive economic data convergence features Q1 GDP, March Core PCE inflation, and initial jobless claims simultaneously at 8:30am, while Friday brings energy giants Exxon (XOM) and Chevron (CVX) earnings alongside manufacturing sector assessment.
Here are 5 things to watch this week in the Market.
