Banks earnings, sentiment on tap
David Russell | email@example.com
JP Morgan and Wells Fargo both issue quarterly results before the opening bell. The University of Michigan releases its consumer-sentiment report at 9:55 a.m. ET. Economists expect a reading of 74.5, down from 77.5 last month. A higher figure would be bullish and a lower number bearish.
Political events in Washington could also affect sentiment, but most of the short-term fear has been removed after House Republicans agreed to a tentative increase in the country's debt limit yesterday.
The federal government remains shut because a budget hasn't been passed, so other reports such as monthly retail sales will not be released. That also leaves next week's schedule relatively quiet for U.S. data, but other countries are active.
China announces its trade numbers late this evening, which could affect sentiment Monday morning, when the Eurozone also publishes industrial-production numbers.
Earnings get busy next Tuesday, with results scheduled in the morning from Citigroup, Johnson & Johnson and Coca-Cola. CSX, Intel, and Yahoo follow in the evening. Germany's Zew economic survey also comes early in the morning.
Wednesday features Bank of America, Bank of New York Mellon, Blackrock, Pepsico, and U.S. Bancorp in the morning. American Express, eBay, IBM, and Xilinx follow in the afternoon.
Thursday's big names include Goldman Sachs, United Healthcare, Union Pacific, and Verizon Communications in the morning. After the bell come Capital One, Google, and Intuitive Surgical. Chinese industrial production will also be announced in the evening.
Friday brings results from General Electric, Honeywell, Ingersoll-Rand, Morgan Stanley, and Textron.