Wells Fargo & Co (WFC), Bank of America Corp (BAC): Eight Must-Watch Announcements for Bank Investors Next Week

Thursday

Existing-home sales: As mentioned above, the current inventory of homes has been on the decline, with resulting increases in home prices. But as the market rebounds, home-buyers may find the increased value of their homes as an irresistible upside. Also, the increased number of foreclosed properties may find their way back onto the market as the banks try to cash in on higher prices, so be on the lookout for signs that new inventory is becoming available and driving sales numbers higher.

Jobless claims: The past two weeks have demonstrated the resiliency of the labor market, with decreases signaling that businesses are keeping their current employment count steady. And though the improvement in fewer jobless claims is good, investors need to keep watching for signs of new hiring, as that will drive a greater recovery overall.

Bloomberg Consumer Comfort Index: Consumer sentiment dropped in June, following May’s six-year high. As investors wait for more signs of recovery, a continued positive trend from the consumer comfort index could give the right signs that consumer spending has the momentum to push forward. With Citigroup Inc. (NYSE:C) and the other banks’ credit card operations providing a big chunk of overall revenue, they needs to see consumer spending rise to maintain current revenue levels. If larger loans fall due to interest rate hikes, increased personal spending on credit cards may be able to offset some of the overall declines.

Fool on!
Each week there’s new information to assess and analyze, but keep in mind that no headline will make or break your bank stock. Keep an eye on the data and statistics that may help bolster your bank’s fundamentals, and don’t worry about the rest. As a long-term investor, know your investment thesis and stick with it. And as always, you can learn more by logging on to Fool.com.

The article 8 Must-Watch Announcements for Bank Investors Next Week originally appeared on Fool.com and is written by Jessica Alling.

Fool contributor Jessica Alling has no position in any stocks mentioned — you can contact her here. The Motley Fool recommends Wells Fargo & Co (NYSE:WFC) and owns shares of Bank of America Corp (NYSE:BAC) and Wells Fargo.

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