Preview -- Barron's
07 January 2024 - 10:15AM
Dow Jones News
Thursday 1/11
The Bureau of Labor Statistics releases the consumer price index
for December. Consensus estimate is for the CPI to increase 3.2%
year over year, one-tenth of a percentage point more than in
November. The core CPI, which excludes volatile food and energy
prices, is expected to rise 3.8%, compared with a 4% gain
previously. The annualized change in the CPI is near its lowest
level since March of 2021, which Wall Street thinks will allow the
Federal Open Market Committee to start cutting the federal-funds
rate as soon as March.
Friday 1/12
Fourth-quarter earnings season begins in earnest with the four
largest U.S. banks by assets announcing results. Bank of America,
Citigroup, JPMorgan Chase, and Wells Fargo all report before the
opening bell. Shares of JPMorgan were the best performer of the
group last year, returning 30.6%, the only one of the four to
outpace the S&P 500 index's 26.3% return. Bank of America stock
trailed, partially on concerns over unrealized losses on its large
bond portfolio.
The BLS releases the producer price index for December.
Economists forecast a 1.3% year-over-year rise in the PPI, and a
1.9% increase for the core PPI. This compares with gains of 0.9%
and 2.0%, respectively, in November.
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(END) Dow Jones Newswires
January 06, 2024 18:00 ET (23:00 GMT)
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