Last week, the inflation report yielded mixed results. While the Consumer Price Index (CPI) indicated a slowdown in inflation, the Producer Price Index (PPI) increased faster than expected in June. The stock market is stable, and all eyes are on the Federal Reserve’s upcoming decisions regarding interest rate cuts.
This week will see more earnings reports from major banks and financial institutions, including:
Monday:
– Goldman Sachs and Blackrock will release their earnings reports before the market opens. FB Financial Corporation, ServisFirst Bancshares, CrossFirst Bankshares, and other financial institutions will report after the closing bell.
Tuesday:
– Bank of America, Morgan Stanley, the Charles Schwab Corporation, and PNC Financial Services Group will post their latest quarterly results in the morning. Western Alliance Bancorporation, Pinnacle Financial Partners, Fulton Financial Corporation, and other banks will report their earnings in the evening.
Wednesday:
– Citizens Financial Group, First Horizon Corporation, and Ally Financial will release their earnings reports before the market opens.
Thursday:
– Blackstone, M&T Bank Corporation, and First Financial Bankshares will release their earnings reports.
Friday:
– American Express and Fifth Third Bancorp will post their earnings before the market opens.
Health insurance and pharmaceutical companies are also set to release their earnings. Novo Integrated Sciences will start the week with its report. On Tuesday, UnitedHealth Group will report earnings in the morning. Johnson & Johnson and Elevance Health, Inc. will post their financial health on Wednesday, followed by Novartis AG on Thursday.
Other key earnings to watch include United Airlines Holdings on Wednesday and American Airlines on Thursday. Additionally, Netflix, Taiwan Semiconductor Manufacturing Company, and Domino’s Pizza will report this week.
On the macroeconomic front, U.S. retail sales data will be released on Tuesday. On Thursday, U.S. leading economic indicators and initial jobless claims data will go live. Investors will also be closely watching Federal Reserve Chair Jerome Powell, who is scheduled to speak on Monday, as well as other Federal Reserve Presidents who will be speaking throughout the week.