5 Key Developments to Follow Next Week

5 key developments to follow next week have been announced. Third quarter kicks off with reports from JPMorgan Chase and other major banks.

 

1.Bank Earnings

JPMorgan and BlackRock (NYSE:BLK) will report on Wednesday. Subsequently, Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC), Morgan Stanley (NYSE:MS) and Goldman Sachs (NYSE:GS) reports will be published. Bank reports for the second quarter exceeded profit estimates as the economy rebounded: Wells Fargo, Bank of America, Citigroup (NYSE:C) and JPMorgan Chase reported total profits of $33 billion.

2.US Data Will Be Announced

The key report from the US this week will be consumer price inflation for September, which will be released on Wednesday. Economists expect the CPI to increase by 0.3% monthly and 5.3% annually, as in August.

3.FED (US Federal Reserve) Minutes

The Fed will share the minutes of its September meeting on Wednesday, amid expectations that it will start reducing asset purchases before the end of the year, an important first step towards a rate hike. Fed Chairman Jerome Powell said last month that he only needed to see a "good" September jobs report to start the reduction in November.

4.Annual Meetings of IMF and World Bank

The World Bank and IMF begin their annual meetings on Monday. Officials will assess global tax issues, the ongoing Covid-19 pandemic and the global economy.

5.UK Data

While there are signs of slowdown in the UK economy amid rising prices, supply chain problems and labor shortages, the economic data to be published will draw attention. On Tuesday, unemployment benefit claims for September, unemployment rate and wage data for August will be published. On Wednesday, along with industrial and manufacturing data, the August GDP report will be shared. Markets speculate that the Bank of England may be the first major central bank to raise interest rates since the start of the pandemic.   Source: Investing.com