Wednesday, April 10, 2019
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WHAT TO WATCH
Ahead of the opening bell, the U.S. Labor Department will be releasing CPI data for March. CPI is often looked to as a key inflation gauge. Economists polled by Bloomberg are expecting core CPI to have risen 0.2% from last month and 2.1% from last year.
Then at 9 a.m. ET, CEOs from the big banks will head to Capitol Hill to testify before the House Committee of Financial Services. The event is called “Holding Megabanks Accountable: A Review of Global Systemically Important Banks 10 Years After the Financial Crisis.”
Citigroup (C) CEO Michael Corbat, JPMorgan Chase (JPM) CEO Jamie Dimon, Morgan Stanley (MS) CEO James Gorman, Bank of America (BAC) CEO Brian Moynihan, State Street (STT) CEO Ronald O’Hanley, Bank of New York Mellon (BK) CEO Charles Scharf and Goldman Sachs (GS) CEO David Solomon will be attending.
Finally, the minutes from the Federal Open Market Committee’s (FOMC) March meeting will be released at 2 p.m. ET.
On the corporate earnings front, Delta Airlines (DAL) will report before the bell, and Bed Bath & Beyond (BBBY) will report after the market close.
TOP NEWS
Uber plans to sell around $10 billion worth of stock in IPO: Uber Technologies Inc has decided it will seek to sell around $10 billion worth of stock in its initial public offering, and will make public the registration of the offering on Thursday, people familiar with the matter said on Tuesday. [Reuters]
EU poised to grant Britain a long Brexit delay: European Union leaders are set to grant Britain a long extension of Article 50 — the mechanism that notifies that the UK will leave the bloc — at an emergency summit today. [Yahoo Finance UK]
Trump to the world: My trade wars aren't over yet: President Donald Trump is sending a clear message to the economic policy makers gathering in Washington for the IMF and World Bank’s spring meetings: My trade wars aren’t finished yet and a weakening global economy will just have to deal with it. [Bloomberg]
Also: Why Trump wants to manipulate the Federal Reserve
Levi Strauss revenue rises in first post-IPO report: Levi Strauss & Co posted a 7% rise in quarterly revenue on Tuesday in its first report after returning to public markets, as the jeans maker's strategy of expanding its retail stores and investing in its online business paid off. [Reuters]
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