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Wall Street’s major averages were higher on Friday as the key jobs report came in line with expectations and the U.S. Supreme Court did not rule on President Donald Trump’s tariffs. The indexes are on track for weekly gains after a week of losses. The Supreme Court was believed to release its ruling on the legality of Trump’s tariffs on Friday, but a decision did not come in. The court could issue additional opinions in the upcoming weeks. On geopolitics, Trump said he has called off plans for a second wave of military attacks on Venezuela, citing the release of political prisoners and calling it “a very important and smart gesture.”
As the first earnings season of the new year kicks off next week with an intensifying geopolitical situation across the globe, investors must keep an eye out for major economic data, beginning with CPI and New Home Sales numbers scheduled for release on Tuesday. Wednesday will see the release of Retail Sales and PPI numbers, along with Existing Home Sales data and Crude Oil Inventories. Initial Job Claims and S&P Global Manufacturing PMI for January are scheduled for Thursday.
JPMorgan (JPM), Delta Air Lines (DAL), Bank of America (BAC), Wells Fargo (WFC), Citigroup (C), Taiwan Semiconductor (TSM), Morgan Stanley (MS), Goldman Sachs (GS), BlackRock (BLK) and PNC Financial (PNC) are among the companies reporting their results next week.
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Earnings spotlight: Tuesday: JPMorgan, Delta Air Lines. See the full earnings calendar.
Earnings spotlight: Wednesday: Bank of America, Wells Fargo, Citigroup. See