Markets anticipate CPI data major banks' reports👀
Looking ahead, markets will be focused on CPI later this week, where markets are expecting between a 0.3-0.4% core headline with strengths seen on a pick-up in OER (owners equivalent rent) and travel prices. Furthermore, earnings season will return in full strength after this week, with Citi, JPM, and Wells Fargo kicking off the Q3 reporting calendar on Friday. Nearly 80% of S&P 500 companies will report over the next 3 weeks, with earnings expectations having stabilized and the EPS-hurdle being a bit higher than the past 2 quarters.
