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Here’s what to expect on Wednesday, January 17th.
All eyes are on the economy as new retail sales data is released, raising hopes for a strong holiday season.
New York Fed President John Williams, Fed Vice Chair for Supervision Michael Barr, and Fed Director Michelle Bowman are all scheduled to speak at various events, which could provide further insight into the Fed’s next interest rate move. be.
Charles Schwab (SCHW), Discover (DFS), US Bancorp (USB.BA), and Citizens Financial (CFG) are scheduled to report their financial results.
For more expert insights and the latest market trends, click here to watch the full episode of Yahoo Finance Live.
Editor’s note: This article was written by Ike Ntekim
video transcript
– Now we know what will be in the spotlight on Wednesday, January 17th. Let’s look at the economy. New U.S. retail sales data is scheduled to be released at 8:30 a.m. ET.
Economists expect sales to increase during the holiday season. It is expected to rise by four-tenths of a percent last month. And that would follow a rise of three-tenths of a percent in November.
We also expect to receive the first Beige Book of 2024 from the Federal Reserve. This is an analysis of the economic situation of 12 local banks in their respective regions.
– And on the revenue side, the focus is on finance. Charles Schwab has discovered tomorrow that US Bancorp and Citizens Financial are both reporting their 2023 fourth quarter results.
– Moving on to the Fed, we’ll hear from three Fed officials: New York Fed President John Williams, Fed Vice Chairman for Supervision Michael Barr, and Fed President Michelle Bowman. This comes after Mr Waller said in a speech today that a rate cut is possible, but may not happen as quickly as the market thinks.
And we’ve been talking about this all day, Josh. However, this threw a damper on today’s market movements.
– surely. And we will spin towards tomorrow. What’s on the radar? So, today there were big banks, Goldman and Morgan Stanley.
The other big item this week is obviously the retail sales data. We’ll find out tomorrow. Here’s what we’re looking for.
Madison retail sales were expected to increase 0.4% in December. This is an increase from November’s 0.3% rise. And, of course, we’re monitoring this closely because American consumers are a big driver of the American economy.
And we’ve seen them really hold up, right? Because it’s a robust labor market. Unemployment wage growth of less than 4% is good. On the other hand, we are also hearing about savings being reduced and student loan payments restarting. So it will be very interesting to see how it holds up.
– Especially as we continue to hear that consumers are spending more on credit. We hear a lot about buy now, pay later. Earlier, one of our guests mentioned the credit tightening that we’re seeing. How much will that start to impact consumers and how much seasonality will we see?
Naturally, your expenses will increase during the holidays. So I think that’s something to consider. I’m looking forward to Beige Book.
We receive 8 pieces per year. And I love hearing Fed comments. I love command search. I love the Fed commentary–
– You’re in the right profession, Alison.
– thank you. I think so too. But it’s fun just to watch. Does it give us any clues as to what these people in particular are thinking?
We analyze their Fed statements all day long. I want to keep it on paper so I can see how many times they mentioned Taylor Swift.
– Many comments from the Fed. Learn something new every day.
– that’s right.
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