A number of banks will release their latest quarterly reports including: Bank of America (BAC), Morgan Stanley (MS), Charles Schwab (SCHW), PNC Financial Services (PNC), and State Street (STT), as well as UnitedHealth Group (UNH).
Economic data in the form of Jun retail sales will be released with current estimates showing a decline of 0.3% month-over-month.
Federal Reserve Governor Adriana Kugler will speak at the Economic Measurement Seminar at National Association for Business Economics (NABE), in Washington, D.C.
Amazon’s (AMZN) annual sale event, Prime Day, begins and will continue through July 17.
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This post was written by Nicholas Jacobino
Video Transcript
Time now for two watch, Tuesday, July 16th starting off on the earnings front be getting more bank earnings ahead of the open including Bank of America, Morgan Stanley and PNC.
Analysts expecting Bank of America’s net interest income may reach a new low for this cycle.
We’ll also hear from Dow component United Health Group Companies announcing its second quarter results ahead of the opening bill and switching over to the fed will also be getting a little bit of fed commentary from fed Governor Adriana Kugler.
This coming after comments from Fed chair Jay Powell today who said if the fed waits for inflation to get to 2% to cut, it’s waited too long while still going to get some fresh economic data monthly retail sales were out at 8:30 a.m. Eastern time.
The economy is forecasting sales decline 0.3% in June.
And speaking of retail, Amazon’s prime day sales get underway.
The sale starts tomorrow.
It’s running through July 17th.
Adobe analysts predicting roughly $14 billion in combined sales for both days.
That would be a record