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Thursday, July 12, 2012

Friday: JPMorgan Results, PPI, Consumer sentiment

by Calculated Risk on 7/12/2012 09:17:00 PM

• At 7:00 AM ET, J.P. Morgan will report second Quarter 2012 Financial Results. The press release and conference call will provide an update on the CIO losses. ft.com/alphaville will be following the conference call on US Markets Live starting at 7:30 AM.

The WSJ Deal Journal will also be blogging the 2 hour conference call (2 hour call?). From the WSJ: J.P. Morgan Earnings: What to Watch

The bank is so full of news that Chairman and CEO Jamie Dimon, along with his CFO Doug Braunstein, will host a 2-hour conference call tomorrow morning at 7:30 a.m., shortly after the results hit.

WSJ has reported the bank expects the loss to be about $5 billion, and many analysts are looking for that number too.

Analysts expect total revenue to fall 20% to $21.9 billion for the bank.
I've seen CIO loss estimates as high as $6.5 billion.

• At 8:30 AM, the Producer Price Index for June will be released. The consensus is for a 0.4% decrease in producer prices (0.2% increase in core).

• At 9:55 AM, the preliminary Reuter's/University of Michigan's Consumer sentiment index will be released. The consensus is for sentiment to increase slightly to 73.5 from 73.2 in June.

For the economic question contest: