Inflation Data and Bank Earnings Kick Off a Crucial Test for Markets

Bank of America sees revenue rise across the board in upbeat sign for year ahead

Inflation Data and Bank Earnings Kick Off a Crucial Test for Markets

Skip the usual brew and order a tea or a Turkish coffee this morning because it’s Tasseography Tuesday. For hundreds of years, people have looked to coffee grounds and tea leaves for fortune-telling and divination and today is the financial equivalent, when analysts will be poring over data and balance sheets like the dried remnants of an empty cup. The Labor Department is scheduled to release June consumer price index (CPI) data at 8:30 a.m. th…

Big Banks Kick Off Earnings Season With Trading Revenue Set to Rise

Earnings season kicks off this week with the big banks first out of the gate. All six of the largest US lenders are forecast to show increases in trading revenue. Alison Williams, Director of Research for the Global Strategy Team at Bloomberg Intelligence joined Wall Street Beat on Bloomberg Open Interest to talk about what investors are expecting. (Source: Bloomberg)

Markets Digest Earnings and Inflation Numbers

US markets are climbing this morning as earnings season gets underway led by a 0.6% gain for NASDAQ futures. Dow futures, European indices including the DAX, CAC, and FTSE, and commodities like Crude Oil and Copper are all quiet this morning. In currency action, Bitcoin is down 2.4%, while Gold is up 0.2%. Economic data out of China was mixed as Q2 GDP (5.2% vs Street 5.1%) and industrial production (6.8% vs Street 5.6%) beat expectations but re…

Dow Jones Industrial Average Index Drops After CPI Data and Bank Earnings

Highlights The Dow Jones Industrial Average Index declined amid renewed inflation concerns and mixed bank earnings reports. June's CPI inflation data reduced expectations for a near-term rate cut from the Federal Reserve. Technology stocks offered some support, with Nvidia receiving export relief news amid ongoing trade policy changes. The dow jones industrial average index opened the week under pressure following economic data that reignited c…