Earnings Season Begins With Major Banks Beating Expectations

This Week’s Market Forecast… 📊

This Week’s Earnings Calendar

This week, the main focus will be on earnings, but more importantly, forward guidance. On Friday, we received earnings reports from several banks, including JPMorgan, Wells Fargo, BlackRock, and Morgan Stanley.

Investors had been pricing in the expectation that companies would not provide guidance due to the significant uncertainty surrounding tariffs. However, JPMorgan not only beat earnings estimates but also raised its guidance. Wells Fargo, on the other hand, maintained its guidance, which is a positive sign for investors because they did not forgo it.

The key earnings reports I will be watching this week are from Goldman Sachs, PNC, Netflix, and TSMC. Goldman Sachs and PNC will offer insights into current credit and consumer conditions. Netflix will give investors another perspective on consumer behavior, particularly through its subscriber growth. TSMC will be important to watch due to ongoing discussions about tariffs in their region.

Over the weekend, a report suggested that semiconductors and chips would be exempt from tariffs. While this is partly true, they will still be subject to a 20% tariff from the “fentanyl” tariffs that Trump imposed over a month ago.

The main economic data point I will be watching this week is retail sales. The retail sales report will be released Wednesday morning, providing a clearer view of the current state of the consumer. It will be interesting to see if any signs of weakness emerge.

Have a wonderful week!

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