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U.S. Week Ahead: JPMorgan, Alcoa kick off Q2 earnings

Friday, July 06, 2012 - 02:28

JPMorgan will be in focus as the bank posts second-quarter earnings next week. Also, Alcoa reports Monday.

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Earnings season kicks off Monday with six SMP 500 companies reporting second quarter results first stop as usual is Alcoa. -- prices hovering near two year lows an excess inventory analysts are cutting estimates for the company even though they are expecting. This is all profits. Leading the banks into the earnings battlefield will be JPMorgan and things could get ugly for CEO Jamie diamond. Start -- says Wall Street analysts are predicting a surprise drop. A five point 1%. The bank has been struggling with a multibillion dollar trading loss and investors are worried it could get dragged into the light -- scandal. Also keep an eye out for Wells Fargo. The bank is expected to post sharply higher profits and does how many scandals hanging around. Minutes from the Fed meeting on Wednesday are expected to provide a peek into Ben Bernanke's next move to fix the slumping economy and -- the gruesome jobs report today the market will be watching very closely. This jobs report clearly increases the pressure on the Fed to seriously consider another round of bond buying. A lot of the analysts -- written notes today suggest that it might not be as soon as this next fed meeting at the end of the month and early August. But that maybe September's the time for this. Next week we'll get some more information about how the Fed feels with the Fed speeches. Investors will also be buying any hint of inflation and the Producer Price Index which is expected to end up point 6% -- Fed members will be busy making speeches across the globe in the week I had and they got -- man to meet will be ultra dobbs Chicago fed president Charles advent's. Who will be talking about what the slumping US numbers mean for Asia. And in -- and the hawkish head up the Saint Louis and James Bullard will try to provide perspective on the Euro zone's ongoing problems. We'll fed speakers aren't all trolling or other continent San Francisco fed president John Williams will share his economic outlook and -- d'alene Idaho. And why I have the Fed president should head to San Diego for comic con. Where they can pick up super powers and save the economy comic -- kicks off on Thursday. You can follow us on Twitter at Reuters Insider and check out our Reuters -- TV channel at Reuters dot com slash -- TB. I'm -- mom this is raiders.

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U.S. Week Ahead: JPMorgan, Alcoa kick off Q2 earnings

Friday, July 06, 2012 - 02:28