M Alfathan Rahman
M Alfathan Rahman
Third-quarter earnings season starts tonight, led by the biggest banks in the United States.
Wall Street closed Monday split. The Dow rose 0.38% to 51,850.55, while the Nasdaq fell 0.44% to 27,245.90 as memory-chip stocks came under pressure (Motley Fool).
Tonight the focus moves to financials. JPMorgan, Goldman Sachs, Citigroup and Wells Fargo report third-quarter results before the US open at 9:30am ET, alongside UnitedHealth and Johnson & Johnson.
| Stock | Movement | What to Watch |
|---|---|---|
| JPM | Reports before the open | Consensus EPS of $5.94 on revenue of $51.22 billion; options price a move of about 2.8% |
| GS | Reports before the open | Investment banking and trading performance |
| WFC | Reports before the open | Loan growth and consumer credit quality |
| UNH | Reports before the open | Options price a move of about 5% |
| MU | -3.88% ($989.04 close), then -1.9% after hours | DRAM progress at Chinese rival CXMT |
Source: MU close from Nasdaq; MU after-hours move and the bank earnings focus from Investing.com; JPM consensus and options-implied move, and UNH options-implied move, from Seeking Alpha.
Results from JPMorgan Chase (JPM), Goldman Sachs (GS), Citigroup (C) and Wells Fargo (WFC) will be read for signs of resilience in lending, investment banking and consumer credit (Investing.com). For JPMorgan, analysts expect EPS of $5.94 on revenue of $51.22 billion (Seeking Alpha).
Two healthcare heavyweights also report in the US morning. Options price a move of about 5% in UnitedHealth (UNH) shares after the report (Seeking Alpha). Johnson & Johnson (JNJ) rounds out the healthcare picture.
Micron (MU) fell 3.88% to close at $989.04 on Monday and slipped another 1.9% after hours. The trigger: CXMT announced progress on a 4F² DRAM architecture and plans to launch DDR5 server memory before the end of 2026. In South Korea, Samsung Electronics fell 7.49% and SK Hynix fell 8.60% (Investing.com).
As of 11:12pm ET Monday, Nasdaq 100 futures were down 0.8% at 30,646.50 and S&P 500 futures were down 0.2% at 7,840. Dow futures were up 0.2% at 52,187, in line with money moving out of tech and into more defensive sectors (Investing.com).
Brent crude settled at $105.46 and WTI at $92.57 a barrel on Monday after strikes on Riyadh's airport (Investing.com). September CPI is due Wednesday, followed by PPI and retail sales on Thursday.
Tonight, the bank reports are the first test of Q3 earnings season. They could give an early read on US credit and consumer conditions ahead of Wednesday's inflation data.
Meanwhile, the pressure on memory-chip stocks shows the market remains sensitive to competitive news.
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
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