Bank earnings, June PPI, Biden conference: What to Watch

Category: Finance

Big banks are set to release their latest quarterly earnings, economic data including the Producers Price Index (PPI) and Consumer Sentiment will be released, and US President Joe Biden will host a news conference. Analysts are focusing on interest income and inflation readings, while consumer sentiment is expected to increase slightly. The news conference will be a test for Biden as he wraps up the NATO summit.

Keywords: Big Banks, Economic Data, Quarterly Earnings, Producers Price Index, Consumer Sentiment, US President Joe Biden, Inflation, Interest Income

Source: Yahoo Finance

Update At: 7/12/2024

Related Sources

Revenue Department Releases January 2025 Collections | Department of Revenue | Commonwealth of Pennsylvania

Pennsylvania's General Fund revenue for January was $3.9 billion, falling short of estimates by $51.3 million. Year-to-date collections are at $24.1 billion, also below projections. Sales tax receipts exceeded estimates, while personal income tax and other revenues were below expectations. The Motor License Fund, however, performed well, exceeding estimates by $20.1 million.

PA Department of Revenue

Musk-led DOGE has access to U.S. Treasury's payment system

Treasury Secretary Scott Bessent granted Elon Musk's task force access to a critical federal payment system, raising concerns about the integrity and management of federal payments. Experts warn that untrained individuals managing this system could threaten the economy, particularly regarding timely payments on Treasury bonds and other federal obligations.

Marketplace.org

Palantir Technologies Inc. (PLTR) Q4 2024 Earnings Call Transcript

Ana Soro from Palantir's Finance Team welcomes participants to the Fourth Quarter 2024 Earnings Call, discussing results and forward-looking statements regarding fiscal 2025. The call includes information on risks, non-GAAP financial measures, and additional resources available on the Investor Relations website.

Seeking Alpha

Here's Why Uber Stock Dipped Today

Uber Technologies reported Q4 2024 results with gross bookings up 18% year over year to over $44 billion, but forward guidance fell short, leading to a 7% drop in stock. Management plans a $1.5 billion stock repurchase, citing undervaluation. Free cash flow doubled to $1.7 billion, indicating strong profitability despite investor concerns.

Motley Fool

Uber Stock Sinks as Bookings Forecast Disappoints

Uber's shares fell 7% after the company reported a current-quarter gross bookings outlook below analysts' estimates. Despite a net income of $6.88 billion, Uber's operating income and adjusted EBITDA missed expectations. The firm reported gross bookings of $44.2 billion, but projects lower bookings for the next quarter due to currency headwinds.

Investopedia

What Analysts Think of Amazon Stock Ahead of Earnings

Amazon is expected to report strong fourth-quarter results, with analysts maintaining a bullish outlook and a consensus price target of $259. Jefferies highlights Amazon as a top pick for enterprise AI, while concerns about AI spending in the tech sector are rising. Projected revenue is $187.42 billion, a 10% increase year-over-year, with earnings expected at $16.02 billion.

Investopedia

AMZN Earnings: Amazon Beats Wall Street Forecasts but Issues Weak Guidance - TipRanks.com

Amazon's stock fell 2% despite better-than-expected Q4 2024 earnings, with EPS at $1.86 and revenue at $187.79 billion. However, the company issued disappointing guidance for Q1 2025, expecting sales between $151 billion and $155.5 billion, below Wall Street's forecast. The weak outlook is attributed to unfavorable foreign exchange impacts. Amazon's capital expenditures rose significantly, reflecting investments in AI and infrastructure. The stock maintains a Strong Buy rating among analysts.

TipRanks

Amazon Stock Slides Friday Amid Concerns About AI Spending, Soft Forecast

Amazon's shares fell as analysts lowered price targets due to concerns over increased spending on AI and a weaker sales forecast. CEO Andy Jassy indicated a $100 billion capital expenditure plan primarily for AI infrastructure. While some analysts remain optimistic, they adjusted their price targets downwards, reflecting caution about the company's financial outlook amidst significant investments in AI by major tech firms.

Investopedia

CFPB Bites of the Month - 2024 Annual Review - Mortgage

The article outlines key developments in the mortgage industry for 2024, focusing on the CFPB's actions and statements regarding refinancing processes, closing costs, and regulatory changes. It highlights concerns about minority homeowners' access to refinancing benefits, the impact of rising interest rates, and the CFPB's initiatives to address closing costs and junk fees. Additionally, it discusses the CFPB's efforts to combat discrimination in mortgage lending and the implications of recent legal actions against mortgage companies.

JD Supra

FDIC’s McKernan announces departure

The new acting director of the CFPB has instructed the Federal Reserve to stop funding for the bureau and has ordered staff to pause all activities following a suggestion from Elon Musk on X.

ABA Banking Journal