Bank Earnings in Spotlight During Packed Week

Traders will comb over December retail sales on Thursday

by Lillian Currens

Published on Jan 9, 2020 at 1:30 PM

A flurry of financial names will step into the earnings arena this week, including blue chips Goldman Sachs (GS) and JP Morgan Chase (JPM). Fellow Dow member UnitedHealth (UNH) will also be in the earnings spotlight. There will be plenty of economic data for traders to digest, too. A definite market mover will come on Thursday in the form of December retail sales, but ample investor attention will also be paid to several key housing updates late in the week. Meanwhile, a slew of Fed speeches are expected, including two from Philadelphia Fed President Patrick Harker.

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

The week will start quietly on Monday, Jan. 13, with speeches from both Boston Fed President Eric Rosengren and Atlanta Fed President Raphael Bostic. There no earnings of note.

Things will pick up on Tuesday, Jan. 14, with the NFIB small business optimism index and core consumer price index (CPI) both due out. Another double dose of Fed speeches are on the schedule, one from New York Fed President John Williams, and the other from Kansas Fed President Esther George. On the earnings docket is JPMorgan Chase, Aphria (APHA), Citigroup (C), Delta Air Lines (DAL), IHS Markit (INFO), and Wells Fargo (WFC). 

Wednesday, Jan. 15, will bring data from the producer price index (PPI), the Empire State manufacturing index, and the Fed's Beige book. Yet another pair of Fed speeches are due, this time from Patrick Harker and Dallas Fed President Robert Kaplan. Dow component UnitedHealth will enter the earnings confessional today, joined by financial names Bank of America (BAC), BlackRock (BLK), GS, Signature Bank (SBNY), and U.S. Bancorp (USB). Alcoa (AA) will also report. 

A barrage of economic data will come out Thursday, Jan. 16, including weekly jobless claims, December retail sales, import prices, business inventories, and the National Association of Home Builders (NAHB) housing market index. Earnings reports from Bank of New York Mellon (BK), Charles Schwab (SCHW), CSX (CSX), and Morgan Stanley (MS) are all on tap. 

On Friday, Jan. 17, traders will digest data on housing starts, building permits, industrial production, and job openings, as well as the University of Michigan's consumer sentiment index. Harker will also take the stage again. Fastenal (FAST), J.B. Hunt Transport (JBHT), Kansas City Southern (KSU), Schlumberger (SLB) and State Street (STT) will all throw their hats into the earnings ring. 

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