Last week, the inflation report brought mixed results. The Consumer Price Index (CPI) showed a slowdown in inflation, while the Producer Price Index (PPI) rose faster than expected in June. The stock market remains stable, with all eyes on the Federal Reserve’s upcoming statements regarding potential interest rate cuts.
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Looking ahead, this week will see several key developments:
More banks and financial institutions will release their earnings reports.
Monday:
Goldman Sachs and BlackRock will announce their earnings before the market opens. FB Financial Corporation, ServisFirst Bancshares, CrossFirst Bankshares, and others will report after the closing bell.
Tuesday:
Bank of America, Morgan Stanley, the Charles Schwab Corporation, and PNC Financial Services Group will release their quarterly results in the morning. Western Alliance Bancorporation, Pinnacle Financial Partners, Fulton Financial Corporation, and other banks will report in the evening.
Wednesday:
Earnings reports from Citizens Financial Group, First Horizon Corporation, and Ally Financial will be released before the market opens.
Thursday:
Blackstone, M&T Bank Corporation, and First Financial Bankshares will announce their earnings on Thursday.
Friday:
American Express and Fifth Third Bancorp will report their earnings on Friday before the market opens.
Health insurance and pharmaceutical companies will also release their earnings this week. Novo Integrated Sciences starts the week with its report. UnitedHealth Group will report on Tuesday morning, followed by Johnson & Johnson and Elevance Health, Inc. on Wednesday. Novartis AG will release its report on Thursday.
In the airline sector, United Airlines Holdings will report on Wednesday, and American Airlines on Thursday. Other major companies reporting this week include Netflix, Taiwan Semiconductor Manufacturing Company, and Domino’s Pizza.
More macroeconomic data will be released this week. U.S. retail sales data will be published on Tuesday. On Thursday, data on U.S. leading economic indicators and initial jobless claims will be released. Investors will be closely watching Federal Reserve Chair Jerome Powell’s speech on Monday, as well as other statements from Federal Reserve Presidents throughout the week.