NEWS

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PNC Financial ($PNC) reports second-quarter results on Friday, July 14 before the market opens. $PNC joins Citigroup ($C), Wells Fargo ($WFC) and JPMorgan ($JPM) reporting Friday morning.

JPMorgan Chase (JPM) along with the other money center major banks PNC Financial ($PNC), Wells Fargo ($WFC) and Citigroup($C) kick off the banking sector's Q217 earnings season on Friday, July 14 before the market opens.

IMF Is out with its U.S. Article IV Press Briefing, its view on the U.S. economy and its prescriptions for improvement.  Lower forecasts put the IMF in-line with the Fed.

Following a series of soft data points such as retail sales and CPI both the New York and Atlanta Federal Reserves lowered their second and third Quarter GDP estimates. This follows just two days after the FOMC raised Interest rates.

The Federal Reserve has raised interest rates by a quarter of a percent to 1.25% as had been expected by over 90 percent of the market (Fed Futures). The FOMC hikes maintained it's forecast for one more hike in 2017 and says it is 'monitoring inflation developments closely'.

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