The First Slice for Tuesday, January 17, 2023

It’s set to be a busy week for earnings, with reports due from some of the biggest banks and financial sector firms, including Morgan Stanley, Goldman Sachs, Charles Schwab, PNC Bank, and Discover Financial Services. We’ll also get updates from United Airlines, American Airlines, Procter & Gamble, and Netflix.

Wednesday will be a crucial day for economic data, with the U.S. Census Bureau likely to report its December retail sales numbers, while the Bureau of Labor Statistics (BLS) is expected to release the latest Producer Price Index (PPI). We can also expect more news on the housing market, including December housing starts, building permits, and existing home sales.

Treasury Secretary Janet Yellen has warned that the U.S. could hit its statutory debt limit next week, and called on Congressional leaders to either raise or suspend the debt ceiling. Yellen has promised to take measures to prevent a debt default, stating that the Treasury Department will use “extraordinary measures” to continue to fund government operations.

All this comes as investors brace for the latest economic data and hope for a clearer picture of the economic recovery. With so much to watch, it’s sure to be a busy week in the world of finance.

Events Calendar:

Tuesday, January 17

  • Morgan Stanley (MS), Goldman Sachs (GS), Citizens Financial Group (CFG), United Airlines (UAL), Interactive Brokers Group (IBKR), Signature Bank (SBNY), Pinnacle Financial Partners (PNFP), Old National Bancorp (ONB), and Hancock Whitney Corp. (HWC) report earnings
  • NY Empire State Manufacturing Index (Jan)

Wednesday, January 18

  • Charles Schwab (SCHW), Prologis (PLD), PNC Financial Services (PNC), Kinder Morgan (KMI), Discover Financial Services (DFS), J.B. Hunt Transport Services (JBHT), First Horizon Corp. (FHN), Alcoa (AA), Wintrust Financial (WTFC), and H.B. Fuller Company (FUL) report earnings
  • U.S. Retail Sales (Dec)
  • Producer Price Index (PPI) Inflation (Dec)
  • Industrial Production (Dec)
  • Business Inventories (Nov)
  • NAHB Housing Market Index (Jan)

Thursday, January 19

  • Procter & Gamble (PG), Netflix (NFLX), Truist Financial Corp. (TFC), PPG Industries Inc. (PPG), Fastenal Company (FAST), M&T Bank (MTB), Fifth Third Bancorp (FITB), Northern Trust Corporation (NTRS), KeyCorp (KEY), SVB Financial Group (SIVB), American Airlines (AAL), and Comerica Inc. (CMA) report earnings
  • Building Permits (Dec)
  • Housing Starts (Dec)
  • Philadelphia Fed Manufacturing Index (Jan)

Friday, January 20

  • HDFC Bank Ltd. (HDB), Schlumberger (SLB), State Street Corp. (STT), Huntington Bancshares Inc. (HBAN), Regions Financial Corp. (RF), Ericsson (ERIC), and Ally Financial (ALLY) report earnings
  • Existing Home Sales (Dec)

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