What to Watch in the Day Ahead - Friday, October 14

Applied Energetics

13/10/2022 19:30

(The Day Ahead is an email and PDF publication that includes the day's major stories and
events, analyses and other features. To receive The Day Ahead, Eikon users can register at
 DAY/US . Thomson One users can register at RT/DAY/US. All times in ET/GMT)
JPMorgan Chase & Co is set to report its third-quarter revenue. Analysts expect a 24% drop in
the firm's net profit in the quarter from a year earlier, hit by a downturn in investment
banking fees as deals collapsed. 
Citigroup Inc will post third-quarter results with analysts keeping an eye out for any updates
on the wind-down of its UK business as the most global US bank takes steps to streamline
overseas operations to keep pace with bigger rivals.
Retail sales data is expected to rise 0.2% for September, after rising 0.3% in August. Business
inventories are expected to have increased 0.9% in August, after rising 0.6% in July. The Labor
Department also is expected to report both import and export prices for September. The import
prices are expected to fall 1.1%, whereas the export prices are likely to fall 1%.
Wells Fargo & Co is expected to report a drop in third-quarter profit. Analysts expect the
lender to set aside reserves to cover potential loan losses as high interest rates and red-hot
inflation hurt consumers' financial health. Investors will also be watching out for mortgage
demand at the bank, after interest rates on the most popular U.S. home loan surged to the
highest level in over a decade.
Morgan Stanley is likely to report their third-quarter earnings. The quarterly net profit is
expected at $2.585 billion versus $3.7 billion a year earlier.
Federal Reserve Board Governor Lisa Cook is expected to participate in fireside chat on the U.S.
economy before the National Bankers Association 95th Anniversary Conference: "Honoring the Past,
Shaping the Future: MDIs and the Road to Wealth Creation." (1030/1430) Additionally, Federal
Reserve Board Governor Christopher Waller is scheduled to participate in panel on "Central Bank
Digital Currency" panel before the Harvard Law School Symposium Digital Currencies and National
Security Tradeoffs. (1215/1615) Separately, Federal Reserve Bank of Kansas City President Esther
George is likely to speak on the economic outlook before virtual S&P Global Finance Chat Series
hosted by S&P Global Ratings. (1000/1400)
UnitedHealth Group Inc is expected to report third-quarter earnings. The industry bellwether's
medical costs will be in focus, as investors seek to gauge if COVID-19 costs have stabilized for
health insurers after several quarters of volatility.
Statistics Canada is expected to report wholesale trade likely rose 0.8% in August, after
falling 0.6% in July.
 (Compiled by Kumar Satyam; Editing by Krishna Chandra Eluri)
 ((Kumar.Satyam@thomsonreuters.com;))