Wall St week ahead: Bank earnings, CPI headline busy markets week as S&P 500 hovers near records
SPY•JPMorgan, Goldman Sachs and other major banks are due to report next week, alongside U.S. inflation, producer-price and retail-sales data. Third-quarter S&P 500 earnings are expected to rise more than 30%, while September CPI is forecast to increase 3.7% year over year.
1. Banks start earnings season
JPMorgan, Goldman Sachs, Citigroup and Wells Fargo are scheduled to report Tuesday, followed by Morgan Stanley and Bank of America on Wednesday. Investors will be watching for signs of how higher interest rates are affecting capital markets and consumer spending. The S&P 500 banks index fell 7.5% over the past month.
2. Inflation and rates in focus
September CPI is expected to rise 3.7% year over year, with core inflation forecast at 2.5%. Producer-price and retail-sales reports are also due next week, before the Federal Reserve's October 27-28 meeting. The S&P 500 reached an all-time closing high Tuesday and was up more than 14% year to date; the 10-year Treasury yield was around 5.24% late Friday.
