Citigroup, and Morgan Stanley are all scheduled to report ahead of the opening bell.
Rising interest rates should help the banks by boosting net interest margin and net interest income. On the flip side, the jump in borrowing costs could mean that loan demand takes a hit. The falloff in deal-making and underwriting fees will take a bite out of profits, but that will be at least partially offset by a pickup in trading activity thanks to the latest market volatility.
Finally, investors will pay close attention to the banks’ outlooks in the face of global economic uncertainty and the growing risk of recession.Economists surveyed by Refinitiv anticipate September's consumer spending to inch up 0.2%, just below August’s unexpected 0.3% rise. Excluding the automotive component, spending is seen slipping 0.1% in September, after a surprise 0.3% drop the previous month. Prices of imported goods in September likely fell 1.1% month-over-month, following a 1.0% slide in August.It would mark the third straight monthly decline, which might ease inflation worries.are also expected to fall 1.0% in September, matching the decline the prior month.The University of Michigan releases its preliminary index for October.
Bank of America froze CatTurd2's account because of his political views.
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »
Source: SFBusinessTimes - 🏆 78. / 68 Read more »