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Time now for to watch Friday, January 16th.
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It has been a busy week for banks with all the major institutions reporting quarterly earnings.
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Now we’ll be hearing from some regional banks to finish off the week, including PNC, analysts expecting the bank to make less profit before credit costs in Q4, driven by rising expenses.
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And it’s been a mixed picture from financials, lackluster reports from JP Morgan, Wells Fargo, City Group and Bank of America weighing on investors earlier in the week.
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but it was a different story Thursday with Morgan Stanley and Goldman Sachs shares closing the day higher after reporting better than expected fourth quarter earnings.
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And taking a look at the Federal Reserve, another round of commentary from Fed officials coming our way on Friday as the legal threat against Chair Jerome Powell remains front and center.
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Fed governor Michael Barr telling Yahoo Finance Jennifer Schonberger, the justice Justice Department’s criminal inquiry and the White House’s accusations against Fed Governor Lisa Cook amount to quote, an assault on the independence of the Fed.
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On the data front, we’ll be getting some insight into home builders with the confidence index for January, economist forecasting that number to rise compared to the previous month of 40, signaling slightly less pessimism in the housing market.