US earnings season kicked off this week
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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.
This week, the first-quarter earnings season kicked off in the US with Delta Air Lines’ results, and in the first half of next week, investors will be focusing on the latest figures from major US banks. On April 13, Goldman Sachs will report, followed a day later by Citigroup, JPMorgan, and Wells Fargo. There will be few earnings reports from Europe next week; ASML will publish its latest figures on April 15, while among Hungarian companies, PannErgy’s first-quarter production report and AutoWallis’s latest sales report are expected next week.
The first-quarter earnings season has kicked off in the US this week; according to FactSet, the estimated earnings growth rate for the S&P 500 in the first quarter could be 13.2% (year-over-year), among the index components, 51 companies have issued negative EPS forecasts for the first quarter, while 59 have issued positive ones.
As of Thursday morning, approximately 3% of the companies comprising the S&P 500 had already released their latest figures; In terms of revenue, these companies reported an average of 3.9% above expectations; 70.6% of the companies that have released their earnings reports so far delivered a positive surprise, while 5.9% delivered a negative surprise. In terms of EPS, companies that have released their earnings reports so far have, on average, reported earnings 17.5% above expectations; 70.6% of the companies that have reported so far delivered a positive surprise, while 17.7% delivered a negative one. Among the components of the Stoxx 600 index, only two companies have published their latest earnings reports so far.
Next week, major US banks will release their earnings reports in the first half of the week: Goldman Sachs on Monday, followed by Citigroup, JPMorgan, and Wells Fargo on Tuesday. There are few earnings reports coming out of Europe for now, but ASML will publish its report next week, while among Hungarian companies, PannErgy’s first-quarter production report and AutoWallis’s latest sales report are expected next week.
First quarter earnings dates – 2026.04.06. – 04.10.
First quarter earnings dates - 2026.04.13. – 04.17.
First quarter earnings dates - 2026.04.20. – 04.24.
S&P500 first quarter earnings dates – 2026. 04.08. – 04.24.
Stoxx600 first quarter earnings dates – 2026. 04.08. – 04.24.
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