Waiting for the drink trolley like... Delta is rolling up with earnings for the quarter ended in June. Compared to 2020's tomato juice numbers, 2021 might look like champagne: TSA traveler volumes are back to 85% of pre-pandemic levels, and Delta's expected to report a sales increase from last year (no shocker there). Domestic recreational travel is rebounding — Fourth of July flyers even surpassed 2019 levels. But international and business travel, which brings in 75% of airline profits, remains grounded. Bill Gates said that half of biz travel may never return.
Get DJ D-Sol in here... Goldman Sachs' DJ-ing CEO David Solomon (aka: the banker who drops bangers) is dropping earnings instead. It's Big Banks earnings week, with Chase, Citi, Goldman, and others unveiling their numbers. In April, Chase and Goldman revealed record quarterly profits thanks to the IPO-palooza. Corporate and investment banking made up nearly half of Chase's revenue that quarter, and most of Goldman's. Despite a record first half for M&A activity, analysts expect that trading and loan revenue has slowed from last year.