What will drive the markets this week?
Stocks closed mostly higher last week despite doubts on global economic growth due to the rising Delta variant of the Covid-19 variant.
The earnings season starts this week with big banks JPMorgan Chase and Bank of America reporting quarterly earnings. Delta Airlines is also reporting.
Bank earnings come at a time when they still face an extremely low interest-rate environment, which means their net interest margins will remain compressed for some time to come. Meanwhile, Delta Airline earnings, coming at a time when airlines are coming into focus this earnings season, will be useful in understanding the industry’s recovery.
Investors will also parse digest economic data including the Consumer Price Index numbers from across the world which will provide more clues on the inflation picture.
Monday, July 12:
- Indian Consumer Price (CPI) Index (June).
- Chinese Trade Balance (June).
Tuesday, July 13:
- Earnings: JPMorgan Chase.
- German CPI (June).
- French CPI (June).
- U.S. CPI (June).
Wednesday, July 14:
- Earnings: Bank of America, and Delta Air Lines.
- U.K. CPI (June).
- Indian Wholesale Price Index (WPI) (June).
- U.S. Producer Price Index (PPI).
- U.S. Federal Reserve Beige Book.
- Chinese Gross Domestic Product (GDP) (Q2).
- Chinese Industrial Production (June).
Thursday, July 15:
- U.K. Unemployment Rate (May).
- Italian CPI (June).
- U.S. Industrial Production (June).
- U.S. NY Empire State Manufacturing Index (July).
- U.S. Philadelphia Fed Manufacturing Index (July).
- Bank of Japan Interest Rate Decision.
Friday, July 16:
- Eurozone CPI (June).
- Eurozone Trade Balance (May).
- U.S. Retail Sales (June).
- U.S. Business Inventories (May).
- U.S. Retail Inventories Excluding Automobiles (May).