The earnings season continues
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The third-quarter earnings season in the US has picked up pace following the release of the latest figures from US banks. Based on preliminary expectations, the third quarter is likely to have closed with strong earnings growth for S&P 500 companies, led by the energy and technology sectors. The major US banks have still achieved solid growth on an annual basis, indicating that their operations remain strong, but the pace has clearly slowed in many cases, which has tended to result in negative share price reactions.
Commodities - Technical Analysis
Gold and silver continued their downward trend, bouncing off key levels. Until their downward trends are broken, they will not be able to produce a significant rise. The fall in oil prices reversed from the $87.5 level and began a slight upward movement. Natural gas remained in an uptrend; a significant rise could even occur if it breaks out upwards. The price of copper has become stuck in a wider range, so the oversold and overbought zones may offer more favourable trading opportunities. The falling prices of wheat and corn have reached key support levels; a buying reaction from these levels could present favourable long opportunities with limited risk.
The fourth-quarter earnings season continues in the US. Walt Disney, PayPal, Uber, and Amazon, among others, will publish their latest figures in the first week of February. Meanwhile, Infineon and Novo Nordisk, among others, will publish their earnings reports from Europe in the coming week.
As of Friday noon, 31% of the companies comprising the S&P 500 had already published their latest figures, with these companies reporting revenues 1.4% above expectations on average. In terms of revenues, 60.1% of companies that have published their earnings reports so far have delivered positive surprises, while 23.5% have delivered negative surprises. In terms of EPS, companies that have published their earnings reports so far reported an average of 9.9% above expectations; 79.1% of companies that have reported so far caused positive surprises, while 15.6% caused negative surprises.
Among the components of the Stoxx600 index, 11% of companies have published their earnings reports so far. With these companies reporting revenues 0.7% above expectations on average, of the companies that have published their earnings reports so far, 50.9% caused positive surprises, while 30.2% caused negative surprises. In terms of EPS, companies that have published their earnings reports so far reported an average of 1.6% above expectations; 54.6% of the companies that have reported so far caused positive surprises, while 36.4% caused negative surprises.
In the first week of February, US companies such as PayPal, Uber, Amazon, and Walt Disney will report, while in Europe, Infineon and Novo Nordisk, among others, will publish their latest figures. In the week of February 9, Ford, Coca-Cola, and McDonald's, among others, will publish their reports from the United States.
Fourth quarter earnings dates – 2026.02.02. – 02.06.
Fourth quarter earnings dates – 2026.02.09. – 02.13.
Fourth quarter earnings dates – 2026.02.16. – 02.20.
S&P500 fourth quarter earnings dates - 2026. 02.02. - 02.20.
Stoxx600 fourth quarter earnings dates - 2026. 02.02. - 02.20.
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