Why Record Profits For Big Banks Could Be Good For Consumers
Apr 7, 2024
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Financial analysts Josh Brown and Michael Batnick from Ritholtz Wealth Management discuss how earnings reports from major U.S. banks can impact consumer finances. They also delve into the oil market and upcoming CPI report, shedding light on inflation, stock prices, and more.
Earnings reports from major banks provide insights on consumer finances and economic trends.
Rising oil prices and upcoming IEA report impact markets, highlighting global economic interdependencies.
Deep dives
US Banks Earnings Reports
Three major US banks, Citigroup, Wells Fargo, and JP Morgan Chase, are set to release their earnings reports, signaling the start of the first quarter's earnings season. This week's focus is on understanding the financial performance and insights provided by these key players in the banking sector. The revelations from these reports will serve as crucial indicators for investors and the broader economy.
Oil Market Rally and Impact on Prices
A rally in oil and gas prices has gained momentum this year, potentially leading to higher prices in the future. An upcoming report from the International Energy Agency is expected to influence oil markets significantly. The discussions around oil prices and market movements underscore the importance of oil market dynamics in shaping global economic trends.
Inflation Concerns and Financial Landscape
The focus shifts to the latest US inflation data set to be released, with implications for monetary policy decisions. The upcoming CPI report holds significance in gauging inflation trends and potential market reactions. Understanding inflation patterns is crucial for investors, policymakers, and businesses in navigating the financial landscape amidst economic uncertainties.
This week, we're expecting earnings reports from three of the biggest U.S. banks: JPMorgan Chase, Citigroup, and Wells Fargo. Josh Brown and Michael Batnick from Ritholtz Wealth Management join us to discuss what these reports could tell us about the finances of consumers and businesses — how much we’re spending, how much we’re saving and whether we’ve been taking risks. Then, we're drilling into oil. A report from the International Energy Agency is expected Friday and will play a role in letting investors know whether the double digit increase we saw in oil prices in Q1 and the 30% increase we saw in gasoline prices will continue. We're speaking with WSJ reporter, David Uberti, about what rising gasoline prices tells us and why the report could move oil prices, stock prices and more. Plus, we're previewing the upcoming CPI report with WSJ reporter Anna Hirtenstein to find out why this week’s data could change the conversation about inflation.
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