Big banks prepare to reveal earnings

Some of the world’s biggest banks announce earnings this week, including JPMorgan Chase, Wells Fargo and Bank of America.

There’ll also be focus on the US economy and how it fared during the busy Christmas shopping period.
Sales at US retailers probably accelerated in December, highlighting robust holiday spending as 2016 drew to a close, a government report is projected to show.

Car manufacturers and suppliers gather in Detroit for the annual North American International Auto Show as the incoming Trump administration weighs policy changes that may reshape the car market.
Closer to home, German Chancellor Angela Merkel gives a speech today on Europe’s future in her first policy comments of 2017, an election year in Germany.

Later in the week, Ms Merkel and Luxembourg Prime Minister Xavier Bettel will hold talks expected to focus on Brexit and the EU’s agenda for 2017.

A number of airlines will also today give updated traffic statistics for December, including Air France-KLM and IAG. Tesco will also provide an update on its activities on Wednesday.

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