US earnings season kicked off this week
Related content
The government crisis is over – what lies ahead for Romania?
Romania has experienced five turbulent months on the domestic political front. Nevertheless, after several prime ministerial candidates failed to secure parliamentary support, a new government was finally formed in late October. The Romanian equity market, which had performed strongly during the first half of the year, lost momentum towards the end of August and entered a downward correction in September. It then rebounded in October, partly reflecting the reduced risks of a snap election and a sovereign rating downgrade to below investment grade. While domestic political tensions have subsided, the BET index has yet to recover to the vicinity of its August peak. At the same time, Romanian equities no longer appear particularly inexpensive from a valuation perspective.
Commodities - Technical Analysis
Signs of a turnaround have emerged for gold and silver, and a strong upward move could trigger the next upward wave. A breakout above the key downtrend lines could also be on the horizon, which would further reinforce the positive turnaround. The price of oil has broken below the 100-day moving average, weakening the bullish outlook, and with the uptrend broken, it has entered a correction phase. Natural gas is showing a correction following a sharp decline, but has not yet managed to break through its downtrend line. Copper continues to trade within a wide range and is approaching the lower end of that range. Following a significant decline, wheat and corn prices have reached key support levels from which an upward correction—or even a new uptrend—is likely to begin.
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.
Get more out of your investments!
Global Markets Services
OTP Global Markets offers a broad range of services in the field of local and international money and capital markets.
Read morePrivate Banking Services
Personal care and expertise with OTP Private Banking, along with the knowledge, security, and innovations of a multinational banking group.
Read more