Yellen Testimony, Big Bank Earnings in Focus Next Week

Fed Chair Janet Yellen will speak for two days in Washington, D.C.

Jul 7, 2017 at 10:36 AM
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Fed Chair Janet Yellen will be in the spotlight next week, as she testifies before the House Financial Services Committee and Senate Banking Committee. A handful of other central bankers will also step up to the mic. Things will start to heat up on the earnings front, too, with reports trickling in from big banks JPMorgan Chase & Co. (NYSE:JPM)Citigroup Inc (NYSE:C), and Wells Fargo & Co (NYSE:WFC).

Below is a brief list of some key market events scheduled for the upcoming week. All earnings dates listed below are tentative and subject to change. Please check with each company's respective website for official reporting dates.

The week kicks off on Monday, July 10, with the May consumer credit report. Additionally, San Francisco Fed President John Williams will speak in Sydney, Australia. Earning reports from Barracuda Networks (CUDA), Helen of Troy (HELE), and WD-40 (WDFC) are expected. 

The Labor Department will release its Job Openings and Labor Turnover Survey (JOLTS) report on Tuesday, July 11, with the latest wholesale inventories report also due. In addition, Fed Governor Lael Brainard and Minneapolis Fed President Neel Kashkari have speeches planned. PepsiCo (PEP) is scheduled to report earnings.

On Wednesday, July 12, the Fed's Beige Book will be unveiled, hours after the regularly scheduled crude inventories report is for release. Fed Chair Janet Yellen will give her semi-annual monetary policy testimony before the House Financial Services Committee, and Kansas City Fed President Esther George will speak in Denver. Bank of the Ozarks (OZRK), Fastenal (FAST), and Omnicom Group (OMC) are reporting earnings.

Thursday, July 13, is a busy day, starting with weekly jobless claims and the producer price index (PPI). The U.S. Treasury budget and Fed balance sheet are also due, while Yellen will continue to make the rounds on Capitol Hill, testifying before the Senate Banking Committee. Chicago Fed President Charles Evans is also scheduled to speak in Victor, Idaho. Earning are expected from Delta Air Lines (DAL).

Friday, July 14, will yield the consumer price index (CPI), as well as data on retail sales, industrial production and capacity utilization, business inventories, and consumer sentiment. Dallas Fed President Robert Kaplan plans to speak in Mexico City. JPMorgan Chase (JPM), Citigroup (C), PNC Financial (PNC), and Wells Fargo (WFC) are reporting earnings.


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