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This Week: Bank earns, retail sales, housing starts

Added 07-13-20 02:03:02am EST - “A look at some of the key business events and economic indicators upcoming this week:” - Washingtontimes.com

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Posted By TheNewsCommenter: From Washingtontimes.com: “This Week: Bank earns, retail sales, housing starts”. Below is an excerpt from the article.

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JPMorgan, Citigroup and Wells Fargo are set to deliver their earnings for the April-June quarter. Investors will be focusing on whether the banks’ loan defaults spiked as households and business customers’ finances took a hit from the coronavirus pandemic. Wall Street is also eager for an update on how banks see business shaping up for the rest of this year.

Economists project that U.S. shoppers ramped up their spending at retailers in June for the second month in a row.

Retail sales plunged nationwide in March and April as shutdowns and stay-at-home orders due to the coronavirus took effect. But sales surged a record 17.7% in May as states began easing restrictions on businesses. The trend is expected to have helped lift retail sales last month by 5.2%. The Commerce Department issues its latest monthly tally of retail sales Thursday.

Homebuilders are breaking ground on more new homes after a sharp slowdown in March and April due to the coronavirus shutdowns.

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