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Bank Earnings, Coinbase, Beige Book: 3 Things to Watch

Stock MarketsApr 13, 2021 03:32PM ET
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© Reuters.

By Christiana Sciaudone

Investing.com -- It was all about the Johnson & Johnson (NYSE:JNJ) vaccine pause on Tuesday, and Coinbase's imminent initial public offering.

Bitcoin hit a record ahead of the listing as excitement spreads for the world of cryptocurrency. Reopening trades took a hit after U.S. health authorities halted the use of the J&J Covid-19 vaccine after reports that six recipients experienced rare blood clotting.

But the Food and Drug Administration said the probe into the blood clots is expected to last for "a matter of days," they haven't seen the blood clots from recipients of the Pfizer (NYSE:NYSE:PFE) or Moderna (NASDAQ:NASDAQ:MRNA) vaccines and President Joe Biden said there are enough vaccines without J&J for all Americans. Hallelujah.

Markets rebounded toward the end of the day, and things should get exciting once again starting tomorrow amid bank earnings.

Here are three things that could affect markets tomorrow:

1. Bank earnings bingo

It's that time again. JPMorgan Chase & Co (NYSE:JPM), Goldman Sachs & Co (NYSE:GS). and Wells Fargo (NYSE:WFC) & Co. kick things off before the bell. Keep an eye on trading trends, outlooks for economic recovery as more areas open up, and any commentary on additional Archegos fallout.

2. Coinbase debut 

If you've wanted to dip your toes in the crypto waters but haven't had the chance, Coinbase's debut might be of interest. The company will start trading Wednesday via a direct listing, giving folks access to an equity directly tied to cryptocurrencies. The company said last week that it expects to report a first-quarter profit of up to $800 million.

3. Import prices, Beige Book 

Economists expect import prices to have climbed in March, though at a slightly slower pace than the previous month. Consensus is for growth of 0.9%, up from February's 1.3% when the numbers are released at 8:30 AM ET (1230 GMT). There's also the Fed's Beige Book, which is expected to showcase improving economic conditions around the country. It will be released at 2:00 PM ET.

 

 

 



 

 

 

 

Bank Earnings, Coinbase, Beige Book: 3 Things to Watch
 

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Comments (5)
caleb Ford
caleb Ford Apr 13, 2021 7:19PM ET
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Coinbase could be a huge bagger. The hype could push it into a bubble tho tread carefully.
Lonnie Shelton
Lonnie Shelton Apr 13, 2021 7:17PM ET
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bitcoin is funny money. and way over valued at that. big P O P! coming soon.
Ali Kalantaree
Ali Kalantaree Apr 13, 2021 6:56PM ET
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Good luck. Bitcoin is the best
chizukwa nwugo
chizukwa nwugo Apr 13, 2021 6:52PM ET
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I'm new here, don't know how this works
Alexander Stinson
Alexander Stinson Apr 13, 2021 6:12PM ET
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down down down
 
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