European markets uncertain as Israeli holds off on ground offensive for now. US banks continue to dominate as we enter week two of earnings season. . European markets have kicked off the week on an indecisive footing, with Friday’s concerns over a potential weekend offensive in Gaza failing to come to fruition.
Outperformance on earnings and revenues provide confidence that we will see something similar this week, with Bank of America, Goldman Sachs, and Morgan Stanley set to report. Meanwhile, American Express data will provide a key gauge of US consumption and travel habits amid claims of deteriorating savings that holds negative connotations for Q4 spending. From an economic perspective, this week sees a focus on the UK ahead of the jobs and inflation reports.