China CPI, retail sales, China unemployment rate, Japan GDP

According to Reuters, the Australian government expects inflation to be within the Reserve Bank of Australia’s target range of 2-3% by the end of 2024.

Australia’s Treasurer Jim Chalmers said in a media interview on Sunday: “While progress is being made in the fight against inflation, the mission is not being achieved because people are still under the pump. That’s why it’s a big focus.”

The Australian government is scheduled to release the federal budget on Tuesday.

—Shreyashi Sanyal, Reuters

Shares in the global company specializing in tank equipment and refueling technology could rise as much as 140% over the next 12 months, one analyst said.

The company’s business model assumes that buses, industrial trucks and trains are likely to use hydrogen in the future, rather than mass vehicles, which are currently largely transitioning to electricity.

Analysts believe it is perfectly placed to capture the rapid increase in new hydrogen refueling stations being built in the medium term.

CNBC Pro subscribers can read more here.

— Ganesh Rao

Chipmaker Nvidia has been dominating the headlines over the past year, especially since its stock price soared an astronomical 240% in 2023.

Its popularity shows little sign of slowing, and while the stock was flat last week, it’s still up nearly 80% year-to-date.

However, the huge rise in Nvidia’s stock price has raised questions about whether those who haven’t invested yet should buy the stock now or wait for the stock price to drop.

CNBC Pro spoke to two fund managers with differing opinions. Subscribers can read more here.

— Amara Balakrishna

Goldman Sachs, the largest U.S. investment bank, hit a record high of $458.75 on Friday, ending the week up 3.8%.

Goldman has now been up for four straight weeks, gaining nearly 17% during that period and alone adding 431 points to the Dow Jones Industrial Average over the same period.

To put it another way, Goldman Sachs accounted for about 31% of the 1,405-point gain in the Dow Jones Industrial Average over the past four weeks.

— Scott Schnipper

Federal Reserve Bank President Neel Kashkari in Minneapolis and Austan Goolsby in Chicago said they are remaining patient with monetary policy given this year’s surprisingly strong inflation numbers.

“I’m in wait-and-see mode. Let’s get more data to see if this inflation continues or if it’s stagnant,” Kashkari said in an interview with CNBC’s Co-Live. “We are all committed to getting inflation back to the Fed’s 2% goal.”

Goolsby said he was hopeful that inflation could resume following the persistent upward trend seen so far this year, noting that 2023 saw rapid inflation.

“We’re going to have a lot of data and important information before the next meeting, and I don’t like to tie our hands even partially, especially before the end of the year,” he said. “The data dogs need to sniff out some information and make a decision: Are we going to go down the path we saw last year, when inflation was about as low as it has ever been in a non-recession year? We’ve used up all our good fortune, and is this bump at the beginning of the year actually a sign of overheating?

— Jeff Cox

The University of Michigan Consumer Confidence Index fell, due in part to a significant rise in inflation expectations.

The preliminary value of the index for May was 67.4. This is well below the Dow Jones forecast of 76 and also below April’s estimate of 77.2.

“This 10 index point decline is statistically significant and brings sentiment to its lowest level in nearly six months,” Consumer Research Director Joan Hsu said in a statement.

“Consumers have suspended their judgment over the past few months, but now they are recognizing negative developments on a number of fronts. “We have expressed concern that it may be heading towards the area,” Su added. .

Inflation expectations rose from 3.2% to 3.5% last year. Long-term expectations also rose from 3% to 31%.

— Fred Imbert