July 11 - JPMorgan Chase is expected to report a profit for the second quarter. Although the effects of June's rate rise could impact results.
Here's what you need to know our Friday. First stop the show isn't completely out of bed story. US stock indexes ended the day at a record highs after Fed Chairman Ben Bernanke signaled the Fed may not equal the slowing down its stimulant. Investors will be listening Friday April more clarification with three bad -- it's taken the podium. Philadelphia fed president Charles Plosser and Saint Louis fed president James Bullard who publicly criticized Bernanke are confusing market last month. Speaking at summit in Jackson Hole Wyoming. And San Francisco that president John Williams speaks in Vancouver. All are expected to address monetary policy and the economic outlook. Also want Friday the Producer Price Index for June key gauge of inflation it's expected to comment unchanged from may and zero point 5%. Well below the Fed's 2% threshold. Next Wells Fargo reports second quarter earnings. With a sharp jump in mortgage rates in June this will be the first earnings report for investors to scrutinize the impact on revenues for the largest US homeland there. Earnings per share forecast and 92 -- on revenue of about 21 billion dollars compared to last year's earnings per share of 82 cents on similar revenues. A few analysts have downgraded the stock citing -- slowdown in refinancing activity and rising long term interest rates keeper yet and was -- Wells Fargo to market perform from. Outperform and Sterne Agee now ranks the company as neutral from buy. Wells Fargo stock is up 20% for the air. And your top story JPMorgan Chase results the largest US bank by assets releases Q2 results. Reuters estimates earnings pressure to come in at a dollar 43 compared to a dollar 21 for the same period last year. Second quarter revenues are projected to be 24 point eight billion dollars. Analysts say the recovering US housing market has helped the bank's earnings. But keep I now for the impact of rising interest rates in June which could hit on trading. And -- custom mixed views on the stock. Raymond James upgraded to strong buy from out perform while the Meredith Whitney advisory group downgraded to hold from outperform. This is the first earnings release since the big shareholder showdown in May keeping CEO Jamie -- as chairman of the board also. The stocks up 22% so far this year. You can follow us on Twitter at Reuters Insider and get more videos add Reuters dot com slash Reuters TV. I'm -- not bad it is Reuters.