Yahoo Finance Daily

Inflation data, bank earnings: What to know this week

Mon Jul 10 2023

Inflation dataSecond quarter earnings seasonRate hikeConsumer price indexUniversity of Michigan's Consumer Sentiment IndexTech heavy NasdaqMarket performanceJobs reportEarnings seasonDelta AirlinesPepsiCoJP MorganWells FargoCityBlackRockBank performance

Description

In the week ahead, inflation data and the start of second quarter earnings season are expected. Markets anticipate solid results and another rate hike from the Federal Reserve. The consumer price index for June and the University of Michigan's Consumer Sentiment Index will be released. Tech heavy Nasdaq led gains in the market performance. The jobs report showed a slowdown in job growth but an increase in wages. Earnings season will feature reports from Delta Airlines, PepsiCo, JP Morgan, Wells Fargo, City, and BlackRock. Investors will focus on bank performance and potential earnings declines.

Insights

Anticipation for Solid Results

Markets anticipate solid results in the coming weeks and another rate hike from the Federal Reserve later this month.

Tech Heavy Nasdaq

Tech heavy Nasdaq led gains rising more than 30% in the first half of 2023.

Jobs Report

Friday's jobs report showed a slowdown in job growth but an increase in wages.

Earnings Season Focus

Investors will be focused on how banks continue to grapple with fallout from Spring Bank failures and subsequent deposit drains across the system.

JP Morgan Chase CEO Comments

JP Morgan Chase CEO Jamie Diamond's comments on the state of the US economy and banking sector will be closely monitored during earnings season.

Earnings Decline

Investors will be watching to see if S&P500 companies register an earnings decline for a third straight quarter during second quarter earnings season.

Summary

Transcript

Week Ahead

00:01 - 03:07

Inflation data and the start of second quarter earnings season are expected in the week ahead.
Markets anticipate solid results in the coming weeks and another rate hike from the Federal Reserve later this month.
Wednesday will feature the consumer price index for June, with June's producer Surprise Index out Thursday.
The initial July reading for the University of Michigan's Consumer Sentiment Index will be released on Friday.
Some of America's largest financial institutions, including JP Morgan, Wells Fargo, City, and BlackRock, will kick off second quarter earnings season at the end of the week.

Market Performance

03:08 - 04:14

Tech heavy Nasdaq led gains rising more than 30% in the first half of 2023.
The benchmark S&P 500 is up nearly 15%, while the Dow Jones Industrial Average has risen just 1.7%.

Jobs Report

04:15 - 05:06

Friday's jobs report showed that the U.S. economy added 209,000 jobs in June, missing Wall Street estimates and reflecting a slowdown from the previous month.
The unemployment rate now stands at 3%, while hourly wages rose by 4.4% over last year.

Earnings Season

05:07 - 06:47

Earnings from Delta Airlines and PepsiCo are expected on Thursday, followed by a slew of earnings from JP Morgan, Wells Fargo, City, and BlackRock on Friday morning.
Investors will be focused on how banks continue to grapple with fallout from Spring Bank failures and subsequent deposit drains across the system.
JP Morgan Chase CEO Jamie Diamond's comments on the state of the US economy and banking sector will be closely monitored during earnings season.
Investors will be watching to see if S&P500 companies register an earnings decline for a third straight quarter during second quarter earnings season.