The earnings season kicks off in earnest this week, with some of the biggest U.S. banks slated to report.
More than 40 S & P 500 names are on deck to post second-quarter results, including Goldman Sachs, Morgan Stanley and Bank of America. Netflix will also release its latest figures. Expectations for this reporting period are high.
FactSet data shows analysts expect S & P 500 earnings rose 8.8% in the second quarter from the year-earlier period. If that's the case, it would mark the strongest earnings growth going back to the first quarter of 2022 — when profits rose by 9.
4%. Take a look at CNBC Pro's breakdown of what's expected from this week's key reports. All times are Eastern.
Monday Goldman Sachs is set to report earnings before the bell. Management is slated to hold a call at 9:30 a.m.
Last quarter: GS topped first-quarter estimates thanks to strong revenue from trading and investment banking. This quarter: Analysts polled by LSEG expect earnings per share to have more than doubled from the year-earlier period. What CNBC banking reporter Hugh Son is watching: "Goldman Sachs is reporting Monday, and because of an anticipated rebound in Wall Street activity, including merger fees, expectations are high for CEO David Solomon.
Keep an eye out for any writedowns tied to commercial real estate." What history shows: Goldman has beaten earnings expectations in the last three quarters, according to Bespoke Investment Group. Tuesday Morgan Stanley is set to report earnings in.
