Look ahead: US PPI; JPMorgan; Wells Fargo; Citigroup; BNY Mellon
It's all about big US banks as JPMorgan, Citigroup, Wells Fargo, and BNY Mellon hand in their report cards.
US bank stocks have done relatively well in 2024, but look out for loan demand, defaults, and credit quality for a bird's eye view of the health of the US economy. Plus, brace for PPI after slightly weaker-than-expected CPI bolsters hopes for a Fed rate cut.
(AI Video Summary)
US market data for Friday
Angeline Ong at IG discusses key financial indicators and upcoming events affecting the US markets in the "Look ahead" for 12 July. US Consumer Price Index (CPI) rose 3% annually in June, aligning closely with forecasts, suggesting potential Federal Reserve (Fed) interest rate cuts. US stock futures are up, but the US dollar softened.
Major banks' earnings season
Attention is on major banks like JPMorgan Chase and Citigroup as they begin the earnings season, supported by strong consumer spending. Upcoming data includes the Michigan Consumer Sentiment Index and the Baker Hughes oil rig count.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Act on share opportunities today
Go long or short on thousands of international stocks with spread bets and CFDs.
- Get full exposure for a comparatively small deposit
- Trade on spreads from just 0.1%
- Get greater order book visibility with direct market access
See opportunity on a stock?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Take your position
- See whether your hunch pays off
See opportunity on a stock?
Don’t miss your chance – upgrade to a live account to take advantage.
- Trade a huge range of popular stocks
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See opportunity on a stock?
Don’t miss your chance. Log in to take advantage while conditions prevail.
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
