Here are the 6 big things we're watching in the stock market this week
Earnings season ramps up this week, with four Club holdings set to report. Two main inflation reports are also out.
TL;DR
- Four Club holdings (Goldman Sachs, Wells Fargo, BNY, Johnson & Johnson) are reporting earnings this week.
- Key inflation reports, including the Consumer Price Index (CPI) and Producer Price Index (PPI), are scheduled for release.
- Company conference call commentary is considered more valuable than monthly economic data for on-the-ground insights.
- Elevated oil prices and bond yields are currently influencing market direction, alongside earnings.
- The Federal Reserve's interest rate decisions later this month will be influenced by inflation data.
- Goldman Sachs earnings will provide insight into the impact of high rates on corporate funding and M&A.
- Wells Fargo earnings will offer a view into consumer banking, lending, and deposit dynamics in a high-rate environment.
- BNY earnings will be watched for growth in custodian banking and net interest income.
- Johnson & Johnson's earnings will focus on its pharma segment, particularly the launch of its new psoriasis drug, Icotyde, and performance of other key therapies.
- Other economic data releases this week include existing home sales, retail sales, industrial production, and capacity utilization.