An already strained U.S. stock market will be further challenged in the week ahead as the government publishes a key inflation report and megabanks kick off what’s likely to be a murky earnings season.
The highly-awaited Consumer Price Index (CPI) takes top billing in coming days, with third-quarter financials from the country’s largest banks – JPMorgan (JPM), Citi (C), and Wells Fargo (WFC) – following suit in the line of importance.
A fresh CPI reading on Thursday is expected to dictate how much more aggressive the Federal Reserve will get with its interest rate hiking plans, which are already the most combative in decades. The consequential economic release will hold even greater significance after the Labor Department’s September jobs report on Friday suggested officials have further room for increases.
JPMorgan President and CEO Jamie Dimon testifies on Capitol Hill in Washington, U.S., September 22, 2022. (REUTERS/Evelyn Hockstein)
The U.S. economy added 263,000 jobs…