Banks’ big week... Citigroup, JPMorgan Chase, Morgan Stanley, and Wells Fargo all report this week. Earlier this year, banks profited from strong consumer spending (thanks, stimmy checks) and by moving billions of “rainy day funds” to reserves. Goldman Sachs and other top IPO underwriters have benefited from a record year for market debuts. Now, investors are watching loan revenue from products like mortgages. Loan growth has been stagnant, and makes up more than half of the banking industry’s revenue.
Dough-eyed… America’s biggest pizza chain saw sales skyrocket during lockdown when more people munched from their couch. Domino’s sales growth has slowed down this year, but the chain is still growing sales in places where Covid restrictions are lifting. Small price hikes for delivery fees and menu items have helped. When Domino’s reports on Thursday, we’ll see whether the labor shortage impacts results (the chain hires its own delivery drivers), and if the pizza fever is still going strong as more cities reopen.