Name: Inflation, Amazon Prime Day, JPMorgan and Big Bank Earnings: 3 Things to Watch
Uploaded: 2023-07-10T14:22:00Z
Duration: 11 min 6 s
Description: This week, the CPI inflation report is due Wednesday and Amazon will hold its annual Prime Day. JPMorgan, Wells Fargo, Citigroup and other banks will report earnings and provide important details on the state of the U.S. economy. Photo: Chris Ratcliffe/Bloomberg News

https://www.barrons.com/client

Topics

Memberships

Tools

Customer Service

Network

Newsstand

For Business

For Education

For Advertisers

Account

About Barron's

bolded

unBolded

Ken Burns, the filmmaker behind the documentary miniseries "The American Revolution" and others, spoke to Barron's editor at large Andy Serwer.

https://m.wsj.net/video/20260507/0291a39f-ea0f-4e3b-8f5f-c6783863e213/1/hls/manifest-hd-wifi.m3u8

Filmmaker Ken Burns on 'the Most Important Revolution in History'

Jane Fraser, CEO of Citigroup, discusses how they scale their business, their global footprint, and investing in digital assets.

https://m.wsj.net/video/20260506/c85686e1-e814-47e7-a3dc-72a0170fa2c9/1/hls/manifest-hd-wifi.m3u8

Citigroup CEO on Keeping Competitors at Bay

As CEO of Citigroup, Jane Fraser tells Barron’s Andy Serwer about her goals for the future.

https://m.wsj.net/video/20260506/904afc41-63ad-4d30-94d5-fe292999af50/1/hls/manifest-hd-wifi.m3u8

Planning for Growth at Citigroup

Jane Fraser, CEO of Citigroup, sat down for an interview with Barron's Editor at Large Andy Serwer.

https://m.wsj.net/video/20260430/9cbc994b-3c3c-4ab2-994c-1363ccf00ade/1/hls/manifest-hd-wifi.m3u8

Citigroup CEO: 'We're Cheap. Get on the Train.'

Michel Khalaf, chief executive officer of MetLife, discusses how he’s navigating the current market.

https://m.wsj.net/video/20260501/91689664-d41c-4215-8400-ea340e71cf8d/1/hls/manifest-hd-wifi.m3u8

Risk Management in a K-Shaped Economy

“I’m a big believer in a level playing field,” Michel Khalaf, chief executive officer of MetLife, tells Barron’s Andy Serwer.

https://m.wsj.net/video/20260501/0a4674b6-10e7-4a91-bd96-c6a2e6aa7fe2/1/hls/manifest-hd-wifi.m3u8

Why MetLife’s CEO Supports Private Equity in Insurance

Michel Khalaf, chief executive officer of MetLife, spoke to Barron's editor at large Andy Serwer.

https://m.wsj.net/video/20260423/d5471223-ead4-4616-a52a-63b6722abe1e/1/hls/manifest-hd-wifi.m3u8

MetLife's CEO Explains How AI Has Helped the Insurance Company

Constantine Alexandrakis, CEO of the executive search firm Russell Reynolds Associates, discusses the pattern of higher turnover rates and shorter tenures of CEOs.

https://m.wsj.net/video/20260501/2fec28b4-35fb-4ff1-9864-55d5538b0973/1/hls/manifest-hd-wifi.m3u8

Being a CEO Is Becoming More Complicated, According to This Executive

At Barron's

"Your 9-5...is just not going to do it," Nick Magguilli, personal finance expert, said on Barron's Streetwise podcast.

https://m.wsj.net/video/20251216/e6897805-d131-4cc4-9c59-ca03b0c0b958/1/hls/manifest-hd-wifi.m3u8

How to Scale Your Net Worth

TJ Thornton, Head of Global Research Product Marketing at BofA Securities, talks to Jack Hough about his favorite stocks outside of AI.

https://m.wsj.net/video/20251210/f9c1a95c-5a0e-4349-9fe4-73b3ac53bfb8/1/hls/manifest-hd-wifi.m3u8

BofA’s Favorite Non-AI Stocks

Jack Hough talks to TJ Thornton, Head of Global Research Product Marketing at BofA Securities about diversifying stocks to hedge AI risks.

https://m.wsj.net/video/20251210/8e164ff7-1500-4c2f-8713-e891c640a0f4/1/hls/manifest-hd-wifi.m3u8

Evaluating Investing Opportunities Beyond AI

Steve Quirk, chief brokerage officer at Robinhood, breaks down the value of tokenizing stocks in different markets.

https://m.wsj.net/video/20251126/f86d65ea-bd8b-4777-b6b0-80f7bb12027e/1/hls/manifest-hd-wifi.m3u8

Unpacking Tokenization for Everyday Investors

Jack Hough talks to Steve Quirk, chief brokerage officer at Robinhood, about trends in retail investing.

https://m.wsj.net/video/20251126/a9cbdcc6-f060-4fc9-a15e-396924e25946/1/hls/manifest-hd-wifi.m3u8

How Robinhood Reshaped the Trading Landscape for an Entire Generation

Streetwise host Jack Hough sat down with strategist Scott Wren to discuss how the AI-fueled market run stacks up against the dot-com boom.

https://m.wsj.net/video/20251111/bd2e1a5b-1a6e-4543-8133-dcc63f69b5dc/1/hls/manifest-hd-wifi.m3u8

AI vs. The Dot Com Bubble

Bank of America’s Haim Israel shares what’s next for Nuclear Energy development.

https://m.wsj.net/video/20250930/ab4fc336-af44-4af2-8e40-9ae6f04a445e/1/hls/manifest-hd-wifi.m3u8

The Outlook For Nuclear

Jack talks to Lyft CEO David Risher about growth potential in the company.

https://m.wsj.net/video/20250929/ae62b70e-912b-4ce7-ae63-1b2652628bae/1/hls/manifest-hd-wifi.m3u8

Lyft's Ride to Profit

The stock market is expensive. What does that mean for your portfolio? Jack sits down with Franklin Templeton’s Matt Quinlan to talk dividend investing, and whether it’s a good move in a pricey market.

https://m.wsj.net/video/20250911/9c85e132-d710-4458-9467-aa69d4f25ae0/1/hls/manifest-hd-wifi.m3u8

Dividends and Capital Appreciation

Barron's Streetwise

CEO Chris Todd explains how the company is providing core technology to RIAs and broker dealers while building infrastructure to meet future advisor needs in areas like alternative investments and digital currencies.

https://m.wsj.net/video/20260512/06d41382-0347-4765-b253-994badc172a3/1/hls/manifest-hd-wifi.m3u8

Envestnet’s ‘Bullseye’ Strategic Approach  

Interviews with top wealth management professionals about topics including compensation, hiring, marketing, next-gen, and more.

CEO Chris Todd says the company is using AI to increase internal productivity and leveraging its large data set to provide "investment data insights" to help advisors manage client portfolios.

https://m.wsj.net/video/20260512/4207fb3b-4df7-43b2-8c1e-32d3cb75967f/1/hls/manifest-hd-wifi.m3u8

How Envestnet Is Harnessing AI and Data 

Yie-Hsin Hung, president and CEO of State Street Investment Management, describes how the company addresses retirement challenges like increased longevity and the shift of responsibility from pensions to individuals.

https://m.wsj.net/video/20260428/266b9598-bb99-4025-9b2e-d17b76104723/1/hls/manifest-hd-wifi.m3u8

Empowering Investors to Better Prepare for Retirement

Yie-Hsin Hung, president and CEO of State Street Investment Management, says that retirement is a vital business segment, accounting for about a quarter of the company’s global assets.

https://m.wsj.net/video/20260428/ea1e71f0-04bc-4b92-9b82-e52911542bd5/1/hls/manifest-hd-wifi.m3u8

Retirement Is a ‘Very Important Part’ of State Street’s Business

ETF flows reveal a “widening out” of exposure away from large caps, says Yie-Hsin Hung, president and CEO of State Street Investment Management.

https://m.wsj.net/video/20260428/735ae074-7b28-4394-879a-5959b7675c9e/1/hls/manifest-hd-wifi.m3u8

U.S. Investors Are Embracing Small-Cap and Mid-Cap Stocks

Yie-Hsin Hung, president and CEO, says the company is focused on growth in fixed income products, international markets, and the overall wealth category.

https://m.wsj.net/video/20260428/718c379d-03d5-4861-be33-fa3c4f56cef7/1/hls/manifest-hd-wifi.m3u8

Where State Street Investment Management Sees Opportunity

Within five years, “the consumer will have the ability to go online and design their financial advisor—what they look like, how they talk, how they interact, what they remember,” says Rob Nelson, CEO and founder of NorthRock Partners.

https://m.wsj.net/video/20260415/09483094-28db-4623-a9b2-df5b9327dffa/1/hls/manifest-hd-wifi.m3u8

The Future AI Advisor

Rob Nelson, CEO and founder of NorthRock Partners, explains why he is optimistic about the future of financial advice and the potential for advisors to form meaningful client communities.

https://m.wsj.net/video/20260415/4bc66985-8aab-4e8a-b646-8e3023cdd9b0/1/hls/manifest-hd-wifi.m3u8

The Jevons Paradox and Placing a Premium on Community

Rob Nelson, CEO and founder of NorthRock Partners, says clients today place a premium on having free time and peace of mind.

https://m.wsj.net/video/20260415/528964a5-1d56-41bf-9931-bf152533679b/1/hls/manifest-hd-wifi.m3u8

How Client Expectations Have Changed in the Past 15 Years

Barron's Advisor The Way Forward

A “willingness to roll up your sleeves and understand the issues that your clients are facing, not just from an investment perspective,” is common among the industry’s most successful, says Kelly Gaur, a Mercer Advisors regional vice president.

https://m.wsj.net/video/20260319/318adb2f-a888-4f30-b182-c791e27f98ab/1/hls/manifest-hd-wifi.m3u8

Best Advice for Someone Considering Wealth Management as a Career

Kelly Gaur, a Mercer Advisors regional vice president, says she was drawn to working for a registered investment advisor partly because they generally offer a more personalized, modern approach to wealth management.

https://m.wsj.net/video/20260318/5575e9ca-0b48-4fb9-8e43-82aae1b3e3fc/1/hls/manifest-hd-wifi.m3u8

The Appeal of Working for an RIA

“The best client development professionals are those who have served clients in some capacity,” says Kelly Gaur, a Mercer Advisors regional vice president.

https://m.wsj.net/video/20260318/c1638929-6b21-4573-9deb-4f78e1ffa1d7/1/hls/manifest-hd-wifi.m3u8

Client-Facing Experience Can Help Advance Your Career

The Mercer Advisors regional vice president discusses her business development role and tips for breaking into the industry and gaining valuable experience in a non-advisory capacity.

https://m.wsj.net/video/20260318/f2c2c9a5-cb67-4167-a48b-7fe4a9285615/1/hls/manifest-hd-wifi.m3u8

Kelly Gaur: Tips for Pursuing Non-Advisor Roles in Wealth Management

“You want to make sure that everybody's excited and prepared and that you're all pulling the rope in the same direction,” says Nate Fisher, managing director and wealth advisor at Carson Wealth.

https://m.wsj.net/video/20260305/20285ef5-c115-435f-9291-e4f2d5b166a9/1/hls/manifest-hd-wifi.m3u8

A Successful Transition Requires Honesty and a ‘Heavy Lift’

Young advisors considering a succession plan should maximize engagement with clients because “it can take a long time to gain that trust and build those relationships,” says Nate Fisher, managing director and wealth advisor at Carson Wealth.

https://m.wsj.net/video/20260305/236fdaa2-5acb-48e9-b16d-e20b58846487/1/hls/manifest-hd-wifi.m3u8

Succession Planning and Establishing Trust With Clients

The Carson Wealth managing director and wealth advisor says his decision to partner with the firm was driven by the need for increased capacity for holistic services and a clear succession plan for his retiring father.

https://m.wsj.net/video/20260305/33bb1217-c8be-4358-ba17-6238cbab6fa1/1/hls/manifest-hd-wifi.m3u8

Nate Fisher: Lessons Learned From a Successful Partnership

As trust grows, advisors tend to spend less time discussing investments and more time on clients’ families and well-being, says Nate Fisher, managing director and wealth advisor at Carson Wealth.

https://m.wsj.net/video/20260305/d2d3903a-994f-4ae7-82be-706929930b3d/1/hls/manifest-hd-wifi.m3u8

Trusted Advisors Focus Less on Investments, More on Clients' Lives 

Serving tech founders is a full-time, long-term effort that often requires significant upfront work before a successful, revenue-generating relationship is established, says Katie Partridge, a Morgan Stanley private wealth advisor.

https://m.wsj.net/video/20260219/abc63bad-4c7a-474b-b4a8-b4feae461375/1/hls/manifest-hd-wifi.m3u8

Landing Founders as Clients Requires Patience and Hard Work

Barron's Advisor Next Generation

Government policy shapes retirement regardless of savings or lifespan. With Social Security's trust fund facing a 2033 shortfall, what fixes are coming? Our experts discuss policy shifts and how to budget your benefits.

https://m.wsj.net/video/20260410/aea80278-298b-458e-8bcd-f378796d6328/2/hls/manifest-hd-wifi.m3u8

What's Next for Social Security?

Stocks swoop and soar as investors weigh AI hype against rate-cut "tea leaves." Our panelists explain how to drown out the noise, chart your own winning path,and identify investments that offer true long-term rewards.

https://m.wsj.net/video/20260410/586aecf7-117b-4f3e-86f0-6869d907e671/2/hls/manifest-hd-wifi.m3u8

Riding the Market Roller Coaster

The capture of Venezuela’s Nicolás Maduro and Middle East tensions are reshaping oil supply expectations. The U.S. is intervening in energy markets in decades-unseen ways. Experts break down what’s next for oil, gas and energy stocks.

https://m.wsj.net/video/20260212/9779ec13-602a-4a38-bb73-495ff464a24f/1/hls/manifest-hd-wifi.m3u8

Oil and Gas in a Volatile World

For the first time in decades, U.S. power demand is rising - driven by AI data centers, EVs and electrification. Utility and clean-energy stocks are climbing, but costly buildouts threaten affordability. We explore what’s next for the power trade.

https://m.wsj.net/video/20260212/81a81fdd-47b4-44f6-93d1-7597a7fab032/1/hls/manifest-hd-wifi.m3u8

The Gold Rush in Electricity

Will Nvidia and other technology companies keep powering the stock market in 2026? We'll speak with two veteran money managers about their views on tech and their favorite stocks for the coming year.

https://m.wsj.net/video/20251212/5683d7a0-ed1f-4e3c-b913-bb3367ea3abd/1/hls/manifest-hd-wifi.m3u8

Finding Bargains in a Pricey Market

Explore what could go right for investors, and what could go wrong, in a year that will see the AI trade evolve, the Fed's leadership change, and global competition for resources increase in this 2026 Outlook.

https://m.wsj.net/video/20251212/573f5954-c4ab-43e9-804d-f1ea93fbb70c/1/hls/manifest-hd-wifi.m3u8

Meeting the Challenge

Stocks are expensive, risks abound, and AI is about to change the world. Other than that, building a calamity-proof retirement portfolio should be a cinch. Tune in as two veteran money managers size up the markets and share their investment ideas.

https://m.wsj.net/video/20250211/17a5e7d6-7c36-44b0-a35e-bf5ac3a24194/1/hls/manifest-hd-wifi.m3u8

Saving for a Sunny Day

Research shows that people greatly underestimate the healthcare costs they’ll face in retirement. Learn from experts how to estimate those costs, prepare for potential long-term care needs, and manage healthcare expenses in retirement.

https://m.wsj.net/video/20250211/e7c022d9-badf-4e95-8e7c-0b6fce9f7823/1/hls/manifest-hd-wifi.m3u8

Are You Fiscally Fit?

Surging power demand, new energy sources, and growing competition have spurred the utility industry to become more innovative than ever before. Our panelists will unpack the changes afoot and explore what lies ahead for companies, customers, and investors.

https://m.wsj.net/video/20240917/001ea098-1fcc-4da5-9f0e-a3b149bbb2fb/1/hls/manifest-hd-wifi.m3u8

Not Your Father's Utility

Barron's Roundtable

Whether you're leading a transition, building a scalable team, or just trying to stay ahead of the curve, this episode will give you practical insights to lead smarter and grow stronger.

https://m.wsj.net/video/20251010/fd26d60b-d1e6-409b-b51b-101da4aaa368/1/hls/manifest-hd-wifi.m3u8

Next-Gen Leadership Meets Smart Innovation

Electric vehicles sales are growing but not at the pace some expected. Some would-be buyers worry about the range of EV charging, and others are swayed by politics. But innovators from Detroit to Silicon Valley still envision a dramatic shift in how we get around. What’s going on and what’s next?

https://m.wsj.net/video/20240603/5784fa60-791c-47ad-9740-42e4553de5c4/1/hls/manifest-hd-wifi.m3u8

Forces Shaping EV Adoption and the Future of Driving

Success in improving the power grid to accommodate the electricity demands of the future will be a boon for companies doing the work and utilities that succeed. Explore the investing risks and opportunities.

https://m.wsj.net/video/20240522/2b825c69-2687-4d88-923b-0c8f523a2f67/1/hls/manifest-hd-wifi.m3u8

How to Invest in Initiatives to Bolster the Power Grid

Joanna Rotenberg, Fidelity's president of personal investing, discusses ways to make investing more accessible and how to bolster your own financial security.

https://m.wsj.net/video/20231025/8ad733df-ac90-41fd-9655-7761b3e0532c/2/hls/manifest-hd-wifi.m3u8

Mind the Gap: Demystifying Investing

Reshma Kapadia sits down with Cozy Wittman of College Inside Track to discuss how to tackle all things college, from what admission officers are seeking today, to navigating the different ways to funding higher education and evaluating the ROIs.

https://m.wsj.net/video/20230515/b7229011-05cc-42ec-9c16-1d7752ec668d/1/hls/manifest-hd-wifi.m3u8

Decoding the College Search and Financing Puzzle

Nicole Webb, financial advisor and SVP at Wealth Enhancement Group, shares ways to navigate the real estate market this spring whether you are a first-time buyer, a retiree downsizing or someone who is relocating or looking for a second home.

https://m.wsj.net/video/20230424/93eb00e1-caf0-4e83-9fc7-b502a57dc546/1/hls/manifest-hd-wifi.m3u8

Pro Tips on Buying and Selling a Home

Reggie Fils-Aimé, former president and COO of Nintendo of America, joins Barron's deputy editor Alex Eule to discuss his unlikely rise to the top, and the risks he took once there to beat the odds and achieve success.

https://m.wsj.net/video/20220630/61e2296d-ab1a-4216-ae65-24676447c616/1/hls/manifest-hd-wifi.m3u8

How Nintendo's Former President Disrupted the Gaming Industry

2050 Wealth Planners co-CEO Lazetta Rainey Braxton, Sequoia Financial Planners vice president Elizabeth Scheiderer, and MoneyZen founder Manisha Thakor offer tips on how to prepare for recession, inflation, caregiving needs.

https://m.wsj.net/video/20220617/a71025ce-518b-49b9-b098-21417863f8ce/1/hls/manifest-hd-wifi.m3u8

Financial Advice for the Inflation-Weary

Families and advisors have a lot to navigate when it comes to generational wealth transfer. Add sustainable investing to the list. Examine strategies to help close the generational divide. From the Dow Jones Energy & Sustainability event series.

https://m.wsj.net/video/20230210/85cbf3f9-b5ab-4bfa-93c6-f8e8a247d386/1/hls/manifest-hd-wifi.m3u8

Sustainable Investing and the Wealth Transfer

Barron's Events

Level Up

Barron's Explains

Back to Business

Great Investors

MarketWatch

Video Center - Barron's home

This week, the CPI inflation report is due Wednesday and Amazon will hold its annual Prime Day. JPMorgan, Wells Fargo, Citigroup and other banks will report earnings and provide important details on the state of the U.S. economy. Photo: Chris Ratcliffe/Bloomberg News

https://m.wsj.net/video/20230710/ef813f8c-03d1-4eb1-8570-998337af17c2/1/hls/manifest-hd-wifi.m3u8

Inflation, Amazon Prime Day, JPMorgan and Big Bank Earnings: 3 Things to Watch

Everyone, welcome, welcome, welcome, welcome into another edition of Market Takes. We are looking out at all the things that you need to be looking out for this week, all the big things coming up, and it's not just economic data this week. We've got a couple big things coming up this week that you're gonna wanna look out for that aren't just releases from the government or statistical agencies. First of all, starting at 3:00 AM Tuesday morning, that is tomorrow, you've got the start of Amazon Prime Day. I'm gonna tell you why you're gonna wanna look out for Amazon Prime Day and why that could move markets and why that'll be important for the economy in just a minute. Also, of course, it is CPI week. We got the Consumer Price Index coming out on Wednesday morning. We'll be right here on Market Takes breaking all that down. And then on Friday we have the start of earning season, the unofficial start of big earning season with those big banks. You've got Citigroup, JPMorgan, Wells Fargo, all coming out on Friday. We're gonna dive into why that'll be important for this week. So first things first, let's start with Amazon Prime Day. That kicks off tomorrow morning, 3:00 AM. It's gonna be July 11th and 12th. What it is? Amazon Prime Day is just a big day where Amazon offers a lot of big discounts for its Prime members. They pay about $15 a month. And if you are a member of the, you know, the Prime group, if you subscribe to Amazon Prime, you get big discounts on Amazon, really a lot of tech items, a lot of things that have really, you know, been marked down significantly and that's designed to bump up those sales. This has been a really big event, I don't wanna say a big day, because over the past few years, Amazon has stretched Prime Day into a couple days as they'll be doing this year, but over $10 billion in sales, so say, you know, consumer reports about Amazon Prime Day over the last couple times. Now, we've got this year coming up, a lot of other retailers have actually joined into this, and so this has become not just a thing about Amazon, but you've got Target launching Target Circle members having their Target Circle day. That was starting July 9th. You've also had, in previous years, Walmart has joined in with their Walmart+ programs. So you've got some of the biggest retailers all across the board joining in on this big sales day. And this makes this not just about Amazon, but about consumer sales, about online retail sales, about the pickup or attempt to really jumpstart and jolt higher some of those sales that have been consistently kind of lower in the summer months. So this started back in 2015 and, historically, had been the week after July 4th, but in 2020, Prime Day was moved to October, and in 2021, it was also in June and October. Now it's back to being in July. And we are gonna see just how much timing matters and how much this can really jolt up those retail sales of goods which have been lagging. Wanna put something up here on your screen right now, and that is just the chart of US retail sales. This is the change that we have seen year over year. Going back now, if you look in 2023, the start of 2023 in January, and then coming into what we're seeing last month, you've just seen a pretty consistent decline in terms of the overall percentage change in retail sales. Those sales have been coming down pretty consistently, going back all the way to about mid 2022. Now we have seen inflation has come down as well, but we know really big price increases were jolting those numbers higher, and now we have seen a declining number, especially when you break out the good side of those retail sales numbers, those numbers have been coming down, and that chart really just illustrating the slowdown that we have seen in retail sales, and that's why Amazon Prime Day coming up here in July could be a big deal. Again, you've also got Target participating, you likely have Walmart participating, and we know consumers have been spending a lot more on services going out to bars, restaurants, barbers, things like that, rather than goods, things that they purchase on amazon.com or Walmart or any of those. So this will be a good test of the economy. Is the good sector, can the good sector really pick up and repeat some of those big numbers that we had seen for Amazon Prime Day in the past? Now, what we also know about consumers, consumers have been loading up credit cards. They haven't really been buying with cash or buying with debit cards, using that money straight from their account. They've been borrowing money essentially, taking out those personal loans. Consumer credit card debt is at a record high, and we also see that while consumer credit card rates are at record high. So we know folks are paying a lot more to borrow that money from the banks in the form of credit cards. Will that continue and will they keep doing that to splurge on something like Prime Day? You know, this isn't the thing where we've seen consumers really switching more to necessities, more to things like groceries, more to things like gas, and then spending their money there rather than on those big purchases from Amazon and other retailers. Are they gonna continue to do that for something like sales with Amazon, and we'll see if that continues. So another big test to the economy, can this trend we've seen of folks loading up those credit cards and spending that money continue for something, you know, it's not really about needs, this is more about wants, about tech items, about VR headsets, and things like that, speakers, and all those kind of smart devices, will that motivate folks to keep spending? This could also be a really interesting test for the health of the economy. We will see that consumer credit data, that's out today at three o'clock, but it is for May. So it's a couple months delayed, but that is gonna be a good test for the overall health of the economy. Do consumers keep spending as they have? We have seen retail sales, as we just showed you on the screen, come down for a bit. One caveat to this Amazon Prime Day, because, again, this could move stocks, this, you know, if it breaks the pattern that we have seen of lower retail sales, of lower good sales, that could really push stocks higher. If the numbers are disappointing, that could move stocks lower, and this could be something that moves the market, so you're gonna wanna look out for that. One caveat, like I said, is that there isn't really an official metric. Amazon doesn't put out their numbers. Last year, for example, rather than disclose the total number of sales, they said, "Amazon Prime members saved $1.7 billion more than any other Prime Day." Well, that doesn't tell us how much they spent, right? It doesn't tell us how much actual revenue was drawn. It doesn't tell us how much profit was made. It just kind of tells us, "Okay, well they saved a lot of money. Great." Independent analysts, though, like Digital Commerce 360 and Adobe, they provide some estimates and some info and some intel so we can get an idea for what happened. So you wanna look out for those reports and those could move markets. Second thing we wanna talk about this week is CPI inflation data. I wanna throw up here on your screen just the trend that we have seen from CPI. Now, what you see there is a consistent decline in the year-over-year inflation rate. We have seen 11 straight months of declining CPI, of declining inflation, and that is definitely what the Fed wants to see. So that chart up there on your screen illustrating the trend that we have seen for a while, going back about a year in CPI, and, you know, we have seen just a decline in inflation. That's a good thing. You know, those prices have been coming down since the Fed has been acting. Now, the big question is, could we see CPI rise again? And the answer is yes. However, economists are expecting a very bullish reading for June. Economists expect to see if inflation decline to 3.1% on the CPI. Now, that would be huge because it would bring CPI down much closer to the Fed's target range. A lot of folks think that, you know, the Fed would actually be okay with 3% inflation, a lot of folks think the FedEx should actually be targeting 3% inflation. So if we get that 3% number, that would be really big and that would be important. Now, here's why we could see an increase in CPI. We have seen services spending continuing to rise, even coming into this last month. The last few months we've seen services spending pick up. Core CPI has not been declining as it had been previously. We've also seen housing prices pick up significantly lately, and that is the biggest component of CPI. Of course, the Fed's favorite metric, CPI, declined in June, but did pick up in May. So we could see that kind of transfer into or translate into what we see on the CPI report. Now, the CPI report could move the market in a number of ways, even though if we get that 3% number that would be bullish overall for the market, could see stocks really take off, but that could push bond yields up higher as folks sell out of those bonds and say, "Hey, the stock market's gonna start taking off. I don't wanna own bonds anymore. I want to own stocks so that I can make a lot more money." Well, that could push bond yields up, because as we know, when folks sell bonds, the prices decline, the rates, the yields rise, and that could again make those more attractive and kind of create this inverse correlation between stocks and bonds, and you could actually say that hurt the stock market. So a lot of interesting things to break down on CPI. We will be right here on Market Takes breaking that down for you on Wednesday. Last thing we wanna talk about for this week is those bank earnings that we got out on Friday. I wanna throw us chart here up on your screen to just show you how the stock market has been performing. As you see that light blue line up there, that's the NASDAQ, the dark blue line, that's the S&P 500. Overall, the market so far this year really since March has been kicked into high gear. But those bank stocks, you see the green line, the white line, the red line there on your screen have really underperformed, and that just illustrates that bank stocks, even the big ones, even though they weren't the ones affected by what happened with those regional banks, they have really continued to underperform. Now, if we get another big blowout earnings release, from the second quarter earnings reports that we see on Friday, this could move the market significantly because bank stocks have really been one of the big underperformers for the market. If, on the other hand, bank earnings disappoint, which folks aren't really expecting right now, they expect the banks to do pretty well, but that could pull the market back down, kind of snap us maybe out of this high that we've been on where the NASDAQ up 30% so far a year to date, the S&P 500 up more than 12%, up around that 13% number, that could snap us out. Here's what to look for. With JPMorgan Chase, that is the biggest bank in the US, more than 60 million customers, it's gonna tell us a lot about the US consumer. How much your consumer spending on debit versus credit cards? Are we still seeing a big pickup in credit card borrowing? Are they spending more on debit? How did JPMorgan do after the ridiculous earnings quarter they had in Q1, 12.6 billion in profits, 38.3 billion in revenue? Are they able to replicate that, keep that party going, or did things pull back in the second quarter? With Citi, how much loan loss provisions did they put away? Are banks really convinced that this soft landing can happen, or are they worried? Are they saying, "We gotta put some money away because we're worried that people aren't gonna be paying back those loans they've taken out from us"? And is deal making back? We have seen a lot of the data saying, "No, it's not." Banks are hurting a little bit, so we'll see how Citi responds to that. Wells Fargo, they also had a big first quarter, increased profit by 30%, increased net interest income by around 45%. Are they able to replicate that? Analysts are expecting some big numbers from the stock market, and we're gonna see if that can continue. So we're gonna get out of here, but, again, what to watch out for this week? Amazon Prime Day over the next couple days. CPI on Wednesday will be right here on Market Takes 10:00 AM Eastern time. We'll hope you'll join us. And then those big bank earnings on Friday. And listen, that's gonna do it for us here on Market Takes. I am Dion Rabouin, Reporter at the Wall Street Journal. We'll be here Wednesday morning 10:00 AM doing Market Takes. Hope you'll be with us and join us when we do it next time.