U.S. bank earnings and interest rates: What world markets will be watching next week

Federal Reserve Chair Jerome Powell’s testimony and U.S. inflation data top the agenda in the week to come, with U.S. banks reporting earnings and rate decisions due in New Zealand and South Korea.

The June reading is expected to have climbed 0.1 per cent, according to a Reuters poll, after being unexpectedly unchanged in May. JPMorgan Chase, Citigroup and Wells Fargo will report second-quarter earnings on July 12. Bank of America will release its results on July 16. Prospects for higher spending under Marine Le Pen’s far-right National Rally , or even a left government, rocked markets in June.

But a hung parliament is no comfort for investors, as it risks a policy paralysis that could make it even harder to improve France’s stretched finances that have left it facing European Union’s disciplinary measures.Investors are hungry for clues on whether rate cuts are coming this year at the Reserve Bank of New Zealand and the Bank of Korea.

That’s when water regulator, OFWAT, announces just how much water firms – most of whom have been relentlessly pumping untreated human effluent into U.K. rivers for years – can jack up customers’ bills. It has the potential to turn nasty.

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Stock market today: Wall Street hits records as a slowing economy boosts hopes for lower ratesNEW YORK (AP) — Wall Street’s record-breaking rally kept going after weak reports on the economy kept the door open for possible cuts to interest rates. The S&P 500 rose 0.5% Wednesday to set an all-time high for the 33rd time this year.
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