BIG US BANKS PREPARE TO REPORT THIRD-QUARTER EARNINGS THIS WEEK

Several of the largest US banks are due to report third-quarter earnings this week, with Goldman Sachs, JPMorgan, Citigroup and Wells Fargo all scheduled to publish results on Tuesday 13 October, according to CNBC. Bank of America is set to report on Wednesday. Bloomberg's Sridhar Natarajan said the results are likely to be mixed across the sector. Bloomberg reported that the banks are expected to disclose a combined quarterly trading haul of nearly $19 billion. CNBC said the reports come with the S&P 500 near record highs, meaning the results could have a significant effect on the wider market.

CNBC's analysis, based on Cboe LiveVol options data, said financial stocks have been among the weaker-performing sectors of the S&P 500 in 2026, ranking third-worst despite ending broadly flat on the year. The options market was pricing in a 2.84% share price move for Goldman Sachs around its results, close to its average swing of roughly 2% over its past eight reported quarters; the bank's shares rose 9% after its second-quarter report in July, its largest post-earnings move since January 2019. JPMorgan's options pricing pointed to a similar 2.5% move, against a historical average of 2.22%, with CNBC noting the bank's recent earnings reactions have mostly been negative. Citigroup shares were up 11% on the year heading into Tuesday's report, the best performance among the banks reporting this week, though CNBC said last quarter's results surprised investors with a 5.3% fall against a smaller expected move. Wells Fargo shares were down 10% this year, and CNBC said the bank had missed expectations in its last three earnings reports, including a 5% decline in April.

CNBC said options traders were pricing in a 3.5% potential share price move for Wells Fargo this time, below its recent eight-quarter average of 5.6%. The article's available text did not detail specific expectations for Bank of America's Wednesday report. Bloomberg's reporting on the expected $19 billion trading haul was attributed specifically to Natarajan's analysis. The results from all five banks are scheduled to be published this week, according to the cited reporting.