Brexit, Powell, and Big Bank Earnings On Deck

By Emma Duncan / April 04, 2019 / www.schaeffersresearch.com / Article Link

Calendar IIThe Fed's meeting minutes will also be dissected

Mostly subdued on the earnings front, the second week in April will host quarterly reports from big bank Wells Fargo (WFC) and blue-chip giant JPMorgan & Chase (JPM). Also sure to capture headlines will be the House of Representatives Democratic Caucus annual retreat, with Fed Chair Jerome Powell set to make an appearance, and traders will also dissect the Fed's latest meeting minutes. In addition, Wall Street will keep one eye trained on Britain, with the U.K.'s Brexit deadline currently April 12, though Prime Minister Theresa May is seeking another extension.

Below is a brief list of some key market events scheduled for the upcoming week. All earnings dates listed below are tentative and subject to change. Please check with each company's respective website for official reporting dates.

On the economic front, Monday, April 8, will bring data on factory orders. The day is quiet for earnings, with no notable names set to report.

For Tuesday, April 9, the NFIB small business optimism index and the Labor Department's Job Openings and Labor Turnover Survey (JOLTS) are expected. Meanwhile, another quiet day is slated for earnings.

MBA mortgage applications are due Wednesday, April 10, along with the consumer price index (CPI), weekly crude inventories, and the Treasury budget. However, the Fed will be the primary focus, with the Federal Open Market Committee's (FOMC) latest meeting minutes out, and Fed Chair Jerome Powell set to address the House of Representatives Democratic Caucus three-day annual retreat. Earnings from Bed Bath & Beyond (BBBY) and Delta Air Lines (DAL) are expected.

For Thursday, April 11, the economic calendar picks up with speeches from New York Fed President John Williams and St. Louis Fed President James Bullard. Data on weekly jobless claims, the Fed's balance sheet, and the producer price index (PPI) are anticipated. On deck for earnings are Fastenal (FAST) and Rite Aid (RAD).

Closing out the week on Friday, April 12, will beimport and export prices, and the latest consumer sentiment data. As it stands currently, April 12 is also the Brexit deadline for the U.K. to leave the European Union (EU). Making earnings headlines will be big banks JPMorgan Chase (JPM), PNC Financial (PNC), and Wells Fargo (WFC).

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