Stocks enjoyed a second consecutive week of outsize gains, after the U.S. and Iran announced a 14-day cease-fire. All three major equity indexes gained more than 3% on the week, with the Nasdaq Composite ending the week on an eight-day winning streak.
This week the negotiations to end the Iran war will be top of mind for investors. Aside from watching for Iran-related headlines, Wall Street has to contend with the start of first-quarter earnings seasons, which is dominated by financial companies.
Goldman Sachs Group will release quarterly results on Monday, followed by BlackRock, Citigroup, JPMorgan Chase, and Wells Fargo on Tuesday. Bank of America, Morgan Stanley, and PNC Financial Services Group will announce earnings on Wednesday, and Charles Schwab and U.S. Bancorp will follow suit on Thursday.
Outside the financial sector, Johnson & Johnson will report results on Tuesday, and Abbott Laboratories, Netflix, and PepsiCo will do so on Thursday.
The key economic release this week will be the producer price index released on Tuesday by the Bureau of Labor Statistics. Wholesale inflation was already running hot before the beginning of the war, and rising oil prices have only added fuel to that fire.
Monday 4/13
Fastenal and Goldman Sachs Group release earnings.
The National Association of Realtors reports existing-home sales for March. Consensus estimate is for a seasonally adjusted annual rate of 4.06 million homes sold, slightly fewer than in February.
Tuesday 4/14
Albertsons, BlackRock, CarMax, Citigroup, Johnson & Johnson, JPMorgan Chase, and Wells Fargo report quarterly results.
The National Federation of Independent Business releases its Small Business Optimism Index for March. Economists forecast a 98 reading, about one point less than in February.
The Bureau of Labor Statistics releases the producer price index for March. The Consensus call is for a 4.6% year-over-year increase, 1.2 percentage points more than in February. The core PPI, which excludes volatile food and energy prices, is expected to rise 4.2%, compared to 3.9% previously.
Wednesday 4/15
ASML Holding, Bank of America, J.B. Hunt Transport Services, Morgan Stanley, M&T Bank, PNC Financial Services Group, Progressive, and SL Green Realty announce earnings.
The National Association of Home Builders releases its Housing Market Index for April. Consensus estimate is for a 38 reading, matching the March figure. Readings below 50 indicate homebuilders have a dour outlook in the near term for the single-family house market.
The Federal Reserve releases the beige book for the third of eight times this year. The report gathers anecdotal information on current economic conditions from the Fed's 12 regional banks.
Tax day: Wednesday is the deadline to file tax returns and pay any taxes due for 2025.
Thursday 4/16
Abbott Laboratories, Alcoa, Bank of New York Mellon, Charles Schwab, Citizens Financial Group, KeyCorp, Marsh & McLennan, Netflix, PepsiCo, Prologis, Taiwan Semiconductor Manufacturing, Travelers, and U.S. Bancorp report quarterly results.
Friday 4/17
Ericsson, Fifth Third Bancorp, Regions Financial, State Street, and Truist Financial release earnings.