Traders are bracing for the start of earnings season from the big banks with results scheduled Thursday from JPMorgan Chase and Morgan Stanley.
but a lower profit than a year ago. The Refinitiv estimate is for $2.93 per share, down from $3.78 a year ago. The revenue estimate is for $31.97 billion, a 1.8% boost from year ago.Morgan Stanley's results are expected to fall short of year ago numbers. The profit estimate is for $1.53 per share, off 17% from last year's $1.73.A worker assembles a Boeing's 737 MAX airplane wing at the company's production facility.
On the economic calendar, traders will review another inflation report in the form of producer prices. Wholesale prices are expected to rise 0.8% month-over-month according to Refinitiv forecasts, matching May’s increase but below a record 1.6% surge in March. Year-over-year, prices paid by wholesalers are anticipated to jump 10.7% in June. core producer prices are anticipated to rise 0.5%.In Asia, Tokyo's Nikkei 225 gained 0.8%, the Hang Seng in Hong Kong advanced 0.
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