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Key Takeaways
- Wednesday is the date set for the tariffs announced last week by President Donald Trump.
- China announced a 34% retaliatory duty on all goods imported by the U.S., expected to begin Thursday.
- The March Consumer Price Index is expected to be released on Thursday, as market observers closely monitor pricing levels following Trump’s announcement of tariffs.
- The first quarter earnings of the big banks will be announced on Friday. JPMorgan Chase and Wells Fargo are scheduled to report, while Delta Air Lines, CarMax, and Wells Fargo will announce earlier in this week.
- This week we can also expect to see the minutes from the Fed meeting as well as consumer sentiment, wholesale inventories and consumer credit data.
This week’s economic calendar includes the March inflation data as well as earnings from Big Banks. Investors will be looking for signals on prices and economic health amid uncertainty surrounding President Donald Trump’s tariff announcement, which is expected to take effect on Wednesday. China announced retaliatory 34% tariffs scheduled to start on Thursday.
Friday earnings reports from JPMorgan Chase (JPM), Wells Fargo (WFC), and BlackRock (BLK) are among the financial institutions on the calendar. Delta Air Lines (DAL) and CarMax (KMX) also are scheduled to deliver earnings earlier in the week.
The minutes from the Federal Reserve meetings are expected provide an insight into economic conditions as well as the direction of interest rate rates. Data on consumer confidence and credit levels are closely monitored amid economic uncertainty caused by tariffs and inflation.
Monday, April 7
- Consumer Credit (February).
- Levi Strauss (LEVI), Greenbrier (GBX), and Dave & Buster’s (PLAY) Reporting earnings is scheduled
Tuesday, April 8
- NFIB optimism index (March)
- RPM International (RPM) Cal-Maine Foods WD-40 (WDFC), Tilray Brands (TLRY), Mama’s Creations – MAMA Aehr Test Systems Reporting earnings is scheduled
Wednesday, April 9
- U.S. tariffs set to take effect
- Wholesale inventories (February)
- Minutes of March FOMC Meeting
- Constellation Brands (STZ), Delta Air Lines, Simply Good Foods SMPL Reporting earnings is scheduled
Thursday, April 10, 2019
- Chinese tariffs are scheduled to go into effect
- Initial Jobless Claims (Week ending April 5).
- Consumer Price Index (March).
- Chicago Fed President Austan Goolsbee will deliver remarks
- CarMax will be reporting earnings on the scheduled date.
Friday, April 11
- Producer Price Index (March).
- Consumer sentiment – preliminary April
- John Williams, President of the New York Fed, is scheduled to make remarks
- JP Morgan Chase, Wells Fargo BlackRock, Bank of New York Mellon Reporting earnings is scheduled
Investors are looking for consumer data and Fed remarks as they focus on inflation after the tariff announcement.
March inflation data is in the spotlight, as market participants watch prices in light of President Trump’s massive tariffs. These are expected to come into effect on Tuesday, reigniting fears of a recession.
Wells Fargo economists expected the Consumer Price Index in March to remain unchanged, with this data scheduled for release on Thursday. The sideways movement comes as inflation has edged lower recently, including a steeper-than-expected decrease in February’s CPI reading.
Federal Reserve officials cite inflation as one of the main reasons for keeping interest rates where they are. The minutes of the Fed’s March meeting, which are scheduled to be released on Wednesday, will give more insight into the current economic conditions and how they affect central bankers’ views on interest rates. Chicago Fed President Austan Gollisbee and New York Fed president John Williams will also deliver remarks this coming week.
Investors can expect to learn more about wholesale prices on Friday when the Producer Price Index (PPI), for March, is released. This information could potentially affect consumer prices in the future. Investors also expect data on wholesale inventory on Wednesday.
Consumer price expectations, which can influence inflation direction, will be included in the consumer sentiment data that will be released on Friday.
After Trump’s tariffs, the business and consumer community has been closely watching sentiment. Worries about price hikes and worsening economy have been raised by Trump’s policy. Tuesday is expected to be a day of small business sentiment, as recent surveys show that business owners have also started to lose hope in the economy.
Big Bank Reports Kick-Off First-Quarter Earnings season
The latest earnings season will be kicked off by the big banks with a series of scheduled reports this week. This will give investors their first look into first-quarter earnings. Analysts are watching to see whether banks can continue driving growth in areas such investment banking and generating net interest income.
JPMorgan Chase’s earnings report is expected to be the first of a series of reports by financial firms on Friday. This comes after the world’s largest bank, measured by market capitalization, delivered a surprise jump in profits during the last quarter. JPMorgan increased its investment banking revenue, while also increasing its net interest income.
BlackRock announced the announcement on the same date after it posted a record-breaking quarter for assets managed. Investors will likely be listening to updates on Blackrock’s $30 billion AI Infrastructure Funding Project with Microsoft (MSFT), Nvidia(NVDA), Elon Musk’s xAI, and other firms.
Wells Fargo is scheduled to release its Friday report as its net profit topped analyst expectations, but the bank just barely missed its revenue target for last quarter.
Delta Air Lines scheduled its report for Wednesday before Friday’s Financial Services Reports. The carrier lowered its projected earnings for the quarter because of the weakening demand from travelers amid economic uncertainty. The lowered forecast came after Delta reported an extremely profitable quarter in the prior quarter, thanks to higher sales of premium offerings.
Levi Strauss, which is scheduled to release its quarterly report on Monday, has also warned that macroeconomic factors could affect the jeans maker’s 2025 sales.
Cal-Maine will release its quarterly report on Tuesday, amid a flurry of interest in the price of eggs. The food stock has become a symbol against inflation as well as a political talking-point. Cal-Maine, however, has benefited from an increase in demand for eggs due to a bird-flu outbreak. The company posted better-than-expected quarterly results in part due to higher egg prices.
This week, other notable reports include Rustoleum maker RPM on Tuesday, Corona beer producer Constellation Brands, on Wednesday, and online vehicle seller CarMax, on Thursday.
