What’s Wrong With Bank Stocks?
What’s in Today’s Report:
- What’s Wrong With Bank Stocks?
- Monday’s Economic Data Analysis
- Natural Gas Fundamental Update
Futures are bouncing modestly this morning after international markets were mixed overnight as the recent volatility continues to be digested and focus turns to earnings.
Economically, Chinese inflation data met expectations overnight however the German ZEW Survey pretty badly missed expectations showing a sharp drop in confidence among financial professionals.
There is no shortage of potential catalysts today between economic data, earnings and politics/trade.
Economic releases to watch: Industrial Production (E: 0.2%), Housing Market Index (E: 67), and August JOLTS data (E: 6.905M) are all due out within 30 mins of the open.
Notable companies releasing earnings today include: GS ($5.42) and MS ($1.00) ahead of the open and later NFLX ($0.68) and IBM ($3.40) after the market close.
Lastly, traders and investors are showing more interest than normal in the US Treasury’s foreign exchange report as it may shed light on Chinese currency policies and if any manipulation violations were discovered which would again elevate tensions between the world’s two largest economies.
