JPMorgan, Goldman Sachs, and other major banks report Q2 results alongside CPI data and Fed testimony shaping rate expectations.
Wall Street enters a pivotal week as second-quarter earnings season accelerates, led by major banks and technology firms. JPMorgan Chase, Goldman Sachs, Bank of America, Citigroup, and Wells Fargo report Tuesday, offering insights into loan growth, consumer health, and the effects of higher interest rates. Morgan Stanley and Bank of New York Mellon follow Wednesday, with regional lenders closing the week Friday.
Investors will also focus on inflation data, with June’s Consumer Price Index (CPI) due Tuesday and Producer Price Index (PPI) on Wednesday. Economists anticipate cooling inflation, driven by lower gasoline prices, though underlying pressures may persist. Federal Reserve Chair Kevin Warsh’s semiannual testimony and the Fed’s Beige Book will provide additional guidance on monetary policy.
Tech earnings include ASML on Wednesday and Taiwan Semiconductor Manufacturing Co. (TSMC) and Netflix on Thursday, with AI trends under scrutiny. The week’s data and earnings could sway expectations for the Fed’s next rate move.