Indian Consumer Price (CPI) Index (June). Chinese Trade Balance (June).
Tuesday July 13:
JPMorgan Chase (JPM) Reports Earnings. German CPI (June). French CPI (June). U.S. CPI (June).
Wednesday July 14:
Bank of America (BAC) and Delta Air Lines (DAL) Report Earnings. 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).
Events Next Week
Big Bank Earnings
Earnings season starts with the big banks reporting quarterly earnings. JPMorgan (JPM) reports this Tuesday, with Bank of America (BAC) reporting Wednesday
Banks still face an extremely low interest-rate environment, which means their net-interest margins will remain compressed for some time to come. A factor that has allowed banks to maintain strong profits despite this has been consistently high trading profits buoyed by the intense market volatility throughout the last year. However, volatility has been trending downward for over a year now, so the opportunities for stock and bond traders to make up for lost interest income is likely to make it harder for bank profits to continue to do as well as they've done considering the level of interest rates.
Delta Air Lines (DAL) reports on Wednesday, leading the U.S. airline industry, which come into focus this earnings season. Airlines obviously are extremely sensitive to the disruption wrought from the pandemic, so Delta will be a useful bellwether for the state of the industry's recovery. Investors will be monitoring how Delta and other airlines have managed to do in the last quarter. It may also pay to tune in to earnings calls to see what the airlines have to say about the expected effects of the current proliferation of the more infectious delta variant of the coronavirus will be going forward.
CPI Investors also will find more clues on the inflation picture on Tuesday with the latest release of the U.S. Consumer Price Index (CPI) numbers for June. The last reading for May caused some alarm when it showed a 5% year-over-year (YOY) increase. This was the highest YOY increase since August 2008. The previous month's reading in April also showed an elevated a YOY increase of more than 4%. There have been two main schools of thought as to what this means.
One, espoused by Clinton-era Treasury Secretary Larry Summers believes this is potentially longer-term inflation triggered by excessive government stimulus in excess of the output gap in the economy, causing the economy to overheat. Under this hypothesis, inflation would be a meaningful threat to the economy, and the Federal Reserve would have to take steps that could severely hurt the economy to tame it.
The other, put forth by Nobel Prize winning economist Paul Krugman, argues that this inflation is transitory, and primarily caused by supply-chain bottlenecks caused by COVID lockdowns bumping up against pent-up demand for goods as the economy recovers. Under this hypothesis, inflation will decline fairly quickly as supply chains get back up to speed, and pent-up demand from the lockdown subsides.
As we've only had two months of elevated inflation numbers, it's too soon to tell who's right.
SomeJuan: M1X... 16 cores of CPU, 16 cores of GPU, 4nm TSM fab, katy bar the door...
Jan 16, 2021 9:45:11 GMT -5
mercel: It's been a long strange trip - good to see you're still around (and in AAPL -my assumption).
May 10, 2019 12:48:32 GMT -5
Zeke: Long time no see. Nice to see familiar names still here.
Mar 25, 2019 14:42:52 GMT -5
sponge: Regarding the future of VR, I think it will be huge. I was a gamer when I was in college. But as an adult I lost interest. Last fall I flew up to visit my son at college and check out his new Vive set up. After playing with it for the weekend, I was
Apr 29, 2018 15:25:17 GMT -5
galleybob: thanks for your answer. I will copy and send to her
Nov 7, 2017 15:32:18 GMT -5
rickag: So since Jan 28th 2015 AAPL is up from 117.27 to 157.21
Aug 21, 2017 20:09:43 GMT -5
artman1033: VXAPL = 29.21 AAPL = $117.27 AFTER EARNINGS
Jan 28, 2015 14:54:46 GMT -5
artman1033: VXAPL = 44.94 AAPL = $110.39 BEFORE EARNINGS
Jan 27, 2015 11:12:53 GMT -5