The Week Ahead: Bank Earnings and Retail Sales on Tap
What impact, if any, will Wells Fargo's scandal have on results? Plus, Chase, Bank of America, and retail sales.
Jeremy Glaser: Welcome to The Week Ahead. Earning season kicks off with a trio of big banks--JPMorgan Chase, Bank of America, and Wells Fargo--all due to release earnings on Friday. Wells will be in the spotlight after its high-profile stumbles in 2016, including the account-opening scandal that led to the ouster of its CEO and the failure to get its living will approved by regulators. Investors will be watching for how these issues are impacting the firm's financial results.
On the data side, retail sales will be eyed. The November data showed a slowdown from the previous two months. Morningstar's Bob Johnson points out that on a year-over-year-basis the data has been relatively stable but still off from recovery highs. We'll see if higher consumer sentiment readings translate into a strong month for sales.
Stay tuned to Morningstar for our take on these stories.
Jeremy Glaser does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.