On Wednesday, January 14th, the biggest U.S. bank JPMorgan Chase & Co. (JPM) reports fourth quarter and year-end earnings. JPMorgan agreed to pay regulators about $1 billion to settle a probe into the manipulation of foreign exchange rates. The second major bank to report is Wells Fargo & Co. (WFC), also scheduled to post its financial results before the opening bell. On the economic calendar we note retail sales, business inventories, the EIA’s petroleum status report, and the Fed’s Beige Book. TheStreet’s Kurumi Fukushima reports from New York.
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