Investors are bracing for an action packed Friday, which will see a slew of big bank earnings plus an important retail sales figure. JPMorgan, Citigroup and Wells Fargo are set to report quarterly results ahead of the US opening bell, potentially setting the tone for the upcoming earnings season amid the ongoing low interest rate environment. Due to the fact that banks derive a significant portion of income from interest rates and lending, the fact that none have materialised year-to-date may harm the latest earnings results. Also in focus will be any comments from Wells Fargo on the departure of its CEO John Stumpf following the cross-selling account scandal. Additionally, September retail sales are forecast to show a 0.60% jump in sales last month. Other key economic data expected Friday includes Producer Price Index and business inventories.
US Corporate Earnings in Focus
Daily Analysis - 14/10/2016