Economic Reports for the Week of Jan. 13

Posted by Unknown on Sunday, January 12, 2014

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Business Day |Economic Reports for the Week of Jan. 13

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BANK EARNINGS JPMorgan Chase and Wells Fargo, set to report fourth-quarter results on Tuesday, will kick off a flurry of bank earnings. The banking giants, analysts say, will most likely face sluggish demand from borrowers whose appetite for refinancing has been sapped by rising rates. For JPMorgan Chase, the nationâ€™s largest bank, the quarterly report comes after a string of costly government settlements, prompting analysts to predict that high legal costs could hamper profit. All told, JPMorgan will have paid some $20 billion to resolve government investigations in the last 12 months alone.

INTEL EARNINGS Intel, the worldâ€™s largest semiconductor maker, is expected on Thursday to turn in lower fourth-quarter earnings compared with a year ago, and discuss what it is doing about it. The numbers probably will not shock; last Thursday two analyst firms said 2013 saw the first double-digit percentage drop in sales of personal computers. Intel is one of this trendâ€™s chief victims, since it does not have as much presence in tablets or smartphones. The chief executive, Brian M. Krzanich, is expected to talk about how quickly Intel can get into those markets and others where PCs are not prominent.

EUROPEAN CAR SALES While European car sales probably fell last year, strong December buying may have helped the industry end 2013 on a high note. The European Automobile Manufacturersâ€™ Association will report December and full-year data on Thursday.