Banks Citigroup, JP Morgan Chase and Wells Fargo will present their second quarter data on Friday. This will show, among other things, whether they were able to benefit again from the increase in interest rates.
Bank results usually move in line with broader economic developments. Investors will therefore be curious to hear what major US lenders have to say about whether or not a recession is imminent. Also, the directors could say something about the consequences of the crises in their smaller sector counterparts at the beginning of the year, when several regional banks went bankrupt.
Other major US firms also provide figures, such as snack and soft-drink group PepsiCo and asset manager BlackRock.
In Amsterdam, only the NSI real estate investor comes with a quarterly update. But the government’s fall on Friday could also cause moves among smaller listed companies that focus primarily on the Dutch market. Employers’ organization VNO-NCW has warned in response to negative consequences for entrepreneurs if politicians do nothing for a while on a number of important dossiers, such as climate policy, housing and nitrogen .
Federal reserve
Important publications for the financial markets are also on the way on the macroeconomic front. Most interesting will be the June inflation data from the US, as they influence interest rate policy. The Federal Reserve, the central bank’s umbrella organization, halted its string of rate hikes last month. But as there are indications that the US economy is digesting these higher borrowing costs well, there is a good chance that the Fed will raise interest rates further later this year.
New inflation data also comes from Germany, France and the Netherlands. Members of the European Central Bank’s board of directors also made statements this week on the fight against continued price hikes. For example, Mario Centeno, the head of Portugal’s central bank, said his European colleagues need to have confidence that the ECB’s interest rate hikes are doing their job. Fellow ECB board member François Villeroy de Galhau predicted that borrowing costs will remain on a high ‘plateau’ for a long time to come.