Daily Freeman (Kingston, NY) - - BUSINESS -

Spot­light on big banks

Cit­i­group and JPMor­gan Chase re­port their lat­est quar­terly re­sults to­day.

Like other big in­vest­ment banks, the two lenders have ben­e­fited this year from ris­ing in­ter­est in­come. The Fed­eral Re­serve has been steadily rais­ing in­ter­est rates, which has al­lowed banks to charge more on loans. Wall Street pre­dicts Cit­i­group and JPMor­gan’s earn­ings im­proved in the third quar­ter ver­sus a year ear­lier.

In­fla­tion mon­i­tor

Econ­o­mists ex­pect that the prices pro­duc­ers re­ceive for their goods and ser­vices con­tin­ued to climb last month.

They pro­ject the La­bor Depart­ment will re­port to­day that its pro­ducer price in­dex climbed 0.4 per­cent in Septem­ber. That would be the sec­ond in­crease in a row and the big­gest jump since April. The in­dex rose 0.2 per­cent in Au­gust, re­flect­ing higher en­ergy costs.

La­bor market bell­wether

The La­bor Depart­ment re­ports to­day its lat­est weekly fig­ures on ap­pli­ca­tions for un­em­ploy­ment ben­e­fits.

Job­less aid ap­pli­ca­tions dropped two weeks ago to a sea­son­ally ad­justed 260,000, as claims re­turned to more nor­mal lev­els fol­low­ing the dis­rup­tions caused by Hur­ri­cane Irma and Har­vey. De­spite the im­pact of the storms, the over­all level of claims re­mains low, sug­gest­ing that most Amer­i­can work­ers en­joy job se­cu­rity.

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