Investors are gearing up for the flurry of bank earnings that typically mark the start to a new earnings reporting period, with results from JPMorgan (JPM), Citi (C), Wells Fargo (WFC), and Morgan Stanley (MS) all due out. Other companies set to report this week included PepsiCo (PEP) and Delta Air Lines (DAL).
Analysts are bracing for a painful earnings season as persistent inflation, higher interest rates, and geopolitical headwinds weigh on companies’ bottom lines.
Also on Wall Street’s plate is September consumer price data, one of the most pivotal reports ahead of the FOMC’s next policy-setting meeting in November. While the headline reading is expected to moderate again, all eyes will be on the “core” component of the report, which strips out the volatile food and energy categories. Economists surveyed by Bloomberg project core CPI rose to 6.5% from 6.3% over the year, per the latest estimates.
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