The Trump-Xi summit is the next major deadline for investors awaiting a resolution to the U.S.-Iran war. Here's what's ahead

The stakes are high next week as President Donald Trump endeavors to put the Iran war behind him before he meets with Chinese President Xi Jinping, at a key summit in which the two leaders will have no shortage of issues to discuss. Investors are hoping that the Trump administration will reach a resolution with Iran, or reopen the Strait of Hormuz, by the time he meets with Xi. China's added to those hopes by also urging Iran to pursue a diplomatic solution ahead of the summit. But if a resolution does not materialize, and the Strait remains closed, the stock market could suffer. The China summit, on May 14-15, will therefore serve as an impromptu target date for investors who are eager for an end to the war. "The market's been using this China summit as a bit of a deadline," said Scott Ladner, investment chief at Horizon Investments. "If we get to this summit, and the Strait is still closed, I think that has to extend out the time period that the market is going to have to take into consideration." "And that will certainly have a negative impact," Ladner said. The energy shock is already making its way through the U.S. economy. Inflation data on the docket next week will give investors a peek into just how severe the stagflation impact is. According to FactSet, economists expect the consumer price index to have jumped to 3.9% last month from 3.3% previously. So long as the Strait of Hormuz does not continue to remain closed, many investors expect that the U.S. …