US earnings season kicks 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.
The fourth quarter US earnings reporting season kicks off this week, with market participants likely to focus primarily on the reports of major US banks. JP Morgan will release its latest figures on Tuesday, Citigroup on Wednesday, and Goldman Sachs and Morgan Stanley on Thursday. AutoWallis will also publish its latest Sales Report on Thursday, January 15.
The fourth quarter earnings season will soon begin in the US this week. According to FactSet, the estimated earnings growth rate for the S&P 500 in the fourth quarter is 8.3% (year-on-year), However, 57 companies among the index components have published negative EPS guidance for the fourth quarter, while 50 companies have published positive guidance.
As of Monday midday, ~3% of the companies comprising the S&P 500 had already published their latest figures, with these companies reporting revenues 1.9% above expectations on average. In terms of revenues, 76.5% of companies that have published their earnings reports so far have delivered positive surprises, while 11.8% have delivered negative surprises. In terms of EPS, companies that have published their earnings reports so far reported an average of 18.3% above expectations; 88% of the companies that have reported so far caused positive surprises, while 12% caused negative surprises. Of the components of the Stoxx600 index, only two companies have published their latest earnings reports so far.
Delta Air Lines and JP Morgan will be the first to publish their latest figures on Tuesday, followed by Bank of America and Citigroup on Wednesday, and Goldman Sachs and Morgan Stanley on Thursday. AutoWallis' fourth quarter Sales Report will also be released on Thursday. In the week beginning January 19, Netflix and Intel, among others, will release their earnings reports from the United States.
Fourth quarter earnings dates – 2026.01.12 – 01.16.
Fourth quarter earnings dates – 2026.01.19 – 01.23.
Fourth quarter earnings dates – 2026.01.26 – 01.31.
S&P500 fourth quarter earnings dates – 2026.01.12 – 01.31.
Stoxx600 fourth quarter earnings dates – 2026.01.12 – 01.31.
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