Geopolitical tensions between the U.S. and Iran, as well as Russia and Ukraine, showed signs of easing this week, potentially reducing global risks. Next week, attention will focus on whether these tensions continue to diminish. Additionally, the U.S. April CPI data will be a key macroeconomic event, with several important economic indicators scheduled for release, including ADP employment numbers and PPI rates. In a significant leadership change, Kevin Warsh is expected to be confirmed as the new Federal Reserve Chair on Monday, succeeding Powell on May 15. Meanwhile, the U.S. stock market has seen robust performance, with the S&P 500 up 8% and the Nasdaq Composite rising nearly 13% year-to-date, both reaching record highs. Corporate earnings reports will continue to influence stock prices as the first-quarter earnings season concludes.