Connect with us

Hi, what are you looking for?

The Smart Citizen Report


Bank Earnings, Producer Prices, Delta Warning: 3 Things to Watch

Stock Markets5 hours ago (Oct 13, 2021 03:30PM ET)

(C) Reuters.

By Dhirendra Tripathi — Stocks wavered after the Federal Reserve meeting minutes showed policy makers setting a timeline for the bond taper to start as soon as the middle of next month. With a half-hour left in the trading session, the S&P 500 and Nasdaq were slightly higher while the Dow was down.

There are signs that inflation is persisting, with the consumer price index rising 0.4% in September from the previous month, more than the expected 0.3%. Americans are paying more for food, rent and energy.

President Joe Biden on Wednesday is to announce that the Port of Los Angeles will remain open around the clock to ease the supply and logistics bottleneck that is straining the economy across the country and pushing prices for everyday goods higher.

LA’s port, and that of nearby Long Beach, which went 24/7 last month, handle two-fifths of the shipping containers that arrive in U.S. ports, many of them carrying goods manufactured or assembled in China.

Worries about the beginning of the Fed’s bond taper — though well telegraphed for months — weighed on U.S. stocks despite upbeat earnings reports.

JPMorgan Chase & Co (NYSE:JPM), the biggest U.S. bank beat estimates with record revenue in some of its capital markets areas and the release of loan loss reserves.

Oil prices, which have shot above $80 a barrel in recent days, also took a pause as investors worried about the effect of supply chain issues on the economic recovery, dinging demand.

Here are three things that could affect markets tomorrow:

1. More bank earnings

Bank of America Corp (NYSE:BAC) is expected to report third-quarter profit per share of 70 cents on revenue of $21.65 billion, according to analysts tracked by Citigroup Inc (NYSE:C)’s third-quarter earnings per share is expected to come in at $1.74 and revenue at $17.06 billion. And Wells Fargo & Company (NYSE:WFC)’s third-quarter profit per share is seen at 99 cents on revenue of $18.22 billion.

2. Producer prices

Prices paid by companies to producers are likely to have risen by 0.6% month-on-month in September compared to August’s 0.7% rise, according to analysts tracked by Year over year, the PPI is expected to have spiked by 8.7%, after an 8.3% jump in August. The data come out at 8:30 AM ET (1230 GMT).

3. Delta 4Q warning

Delta Air Lines Inc (NYSE:DAL) stock fell on Wednesday as the airline warned of a fourth-quarter loss even as it managed to report its first quarterly profit since the start of the pandemic. Chief Executive Officer Ed Bastian blamed record high crude prices for the company’s pessimism. “While demand continues to improve, the recent rise in fuel prices will pressure our ability to remain profitable for the December quarter,” Bastian said in a note.

Bank Earnings, Producer Prices, Delta Warning: 3 Things to Watch

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Join Our Time-Limited Free Subscription! Get Latest Trading Ideas, Business Info and Market Stocks.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

You May Also Like

Editor's Pick

 Going Full Liberal In response to the arrest of a man who walked into a cafe holding a baseball bat and screaming through a megaphone, a...


Cryptocurrency1 hour ago (Mar 15, 2021 05:00AM ET) XRP Price Prediction if It Wins Lawsuit 2020 was a striking year for cryptocurrencies as it...


World50 minutes ago (Jul 23, 2021 08:52AM ET) (C) Reuters. FILE PHOTO: A medical worker prepares a syringe at a coronavirus disease (COVID-19) vaccination...

Editor's Pick

Going Full Liberal More trouble for creepy Joe. An extensive new survey by Morning Consult of nearly 28,000 registered voters presents some troubling numbers for the...

Editor's Pick

Going Full Liberal National Public Radio (NPR) posted a tweet Saturday urging every reader to begin “decolonizing your bookshelf.” According to NPR, “white voices...

Editor's Pick

Going Full Liberal The liberal plan?  Get the body count as high as possible to hurt Trump.  These people are disgusting. Last week, the...

Editor's Pick

Going Full Liberal Liberal brilliance on full display. New York City appears to have experienced a surge in shootings this week after the New...

Editor's Pick

Going Full Liberal In the past few weeks, demonstrators — mobs, really — have destroyed or defaced the following statues across the United States....

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.

The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

© Copyright 2021, All Rights Reserved