Wall Street traded slightly in the red on Tuesday morning as markets took a cautious stance ahead of the inflation report and the Federal Open Market Committee (FOMC) meeting on Wednesday.
In a week already ablaze with market fervor sparked by inflation data surpassing expectations and prompting a jolting reassessment of Federal Reserve rate cut projections, Friday witnesses heightened volatility, fueled by escalating geopolitical tensions in the Middle East.
Companies Reporting Before The Bell
• Progressive (NYSE:PGR) is projected to report quarterly earnings at $3.17 per share on revenue of $17.43 billion.
Major U.S. banks' Q1 2024 earnings reports will give crucial insights into the economy and consumer health. Analysts predict solid EPS and revenue for most banks.
Banking regulators probe index-fund giants BlackRock, Vanguard, and State Street's roles in US bank investments, managing over $23 trillion in index-linked funds. With over 10% stakes in multiple banks, scrutiny rises amid potential regulatory changes.