Five Things You Need to Know to Start Your Day: Americas

Good morning. Big banks kick off the quarterly earnings season, commodities markets are getting lively and investors pull money from US large caps. Here’s what people are talking about. — Sofia Horta e Costa

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Earnings season has arrived, with major Wall Street banks Citigroup, JPMorgan and Wells Fargo on the schedule today. Investors will be closely parsing their outlooks and looking for commentary around key profit drivers. With traders predicting far fewer interest rate cuts from the Federal Reserve than anticipated at the start of 2024, analysts expect some larger banks will increase this year’s guidance for net interest income. Still, bank bosses could be reticent to boost their outlooks while the rate picture remains in flux. Meanwhile, the Wall Street Journal reported that Morgan Stanley, which will update investors on its financials next week, is facing scrutiny from US regulators in its wealth unit.