Check out the day before Rae Wee's European and global markets

The joy of the market's turmoil this week seems to have run, with investors leaving the next catalyst behind. U.S. retail sales and Walmart revenues could occur later in the day.

Asian stocks drifted, and futures saw a mixed opening in Europe on Thursday as investors remained largely uncertain about the prospects of the global economy and the chaotic trade policy of U.S. President Donald Trump.

The key to the market will be the results of Walmart, the leader in U.S. retail, to show whether the Arkansas behemoth is indeed favoring Trump’s tariff uncertainty.

Walmart is one of the few large companies that have not yet pulled or cut forecasts. The company reiterated its annual forecast last month and said “there is nothing changing its strategy in the current environment.”

If this change is made, investors will undoubtedly be shocked.

The results are related to US retail data in April, expecting flat readings every month.

Together, these versions will provide clues about the health of American consumers, and optimistic numbers may narrow the chances of recession in the world's largest economy, which in turn is a boon for stocks.

The speech by Fed Chairman Jerome Powell is also on the radar of the market, focusing on any tips he may give on the outlook for U.S. monetary policy.

So far, the tough data have provided Fed policymakers with a nearly barely effective process as they try to assess how Trump’s massive tariffs and ongoing trade negotiations will affect prices and the economy. Powell will likely reiterate his patient approach.

Initial growth figures in the UK and the eurozone should also be due before the U.S. issuance, although investors may surpass these figures as they are tariffs on Trump’s “Liberation Day”.

In the currency market, the dollar's win against North Korea remained volatile, gliding for the second consecutive day, and South Korea's deputy Treasury secretary discussed foreign exchange with U.S. Treasury officials earlier this month.

WON's move reminiscent of the unprecedented surge in Taiwan's dollar a few days ago, once again raising speculation that the weaker dollar could be part of a trade deal Trump has reached with other countries.

Major developments that may affect the market on Thursday: