It is that point once more. The second-quarter earnings season kicks off this week with 37 corporations which can be members of the S & P 500 index set to report. Among the many most notable corporations outlining how they carried out within the quarter ended June 30: massive banks, led by JPMorgan Chase , the most important within the land, and streaming large Netflix. Expectations heading into the season are muted as corporations navigate an ever-changing tariff panorama. In response to FactSet, second-quarter S & P 500 earnings are anticipated to have grown 4.8% from the identical interval a yr in the past. If that is the case, it could finish with the bottom quarterly development price for the reason that fourth quarter of 2023. Check out CNBC Professional’s breakdown of what to anticipate on this week’s key stories. All instances are ET. Tuesday JPMorgan Chase is about to report earnings earlier than the bell, adopted by a convention name at 8:30 a.m. Final quarter: JPM reported better-than-expected earnings and income, however CEO Jamie Dimon warned of ” appreciable turbulence ” forward. This quarter: Analysts polled by LSEG anticipate a pointy year-over-year lower in earnings. What to look at: Financial institution of America analyst Ebrahim Poonawala sees stable outcomes coming at JPMorgan Chase. However Federal Reserve price cuts might dampen the outlook for the corporate, he stated, including that, “Whereas mgmt. is unlikely to supply steerage for 2026 simply but, commentary from investor day + latest trade conferences counsel a sharpened give attention to bills.” What historical past exhibits: JPMorgan earnings have crushed estimates within the final 5 quarters, in keeping with Bespoke Funding Group. Wells Fargo is about to report earnings premarket, with a name slated for 10 a.m. Final quarter: WFC shares fell on lower-than-expected income and a decline web curiosity earnings . This quarter: Income is forecast to have remained flat yr over yr, in keeping with LSEG. What to look at: David Lengthy of Raymond James downgraded Wells Fargo final week to market carry out from outperform, noting the market has priced in stronger future earnings now that an asset cap on the financial institution has been eliminated. Nonetheless, he raised his second-quarter earnings estimate. What historical past exhibits: Wells Fargo has posted an earnings beat in eight of the final 9 quarters, in keeping with Bespoke. Citigroup is about to report earnings earlier than the inventory market opens. A name with analysts is about for 11 a.m. Final quarter: C outcomes beat expectations due to robust mounted earnings and buying and selling income . This quarter: Analysts polled by LSEG anticipate earnings to have elevated by about 5% yr over yr. What to look at: Wells Fargo financial institution analyst Mike Mayo lowered his second-quarter estimates for Citigroup, “largely reflecting greater 2Q bills and provisions than beforehand est., partially offset by first rate capital markets.” To make sure, Citigroup shares have outperformed these of different main banks, up greater than 23% thus far this yr. What historical past exhibits: Bespoke information exhibits Citigroup beats Wall Avenue analysts’ earnings estimates 78% of the time. Wednesday Financial institution of America is about to report earnings within the premarket, adopted by a name at 8 a.m. Final quarter: Sturdy web curiosity earnings and buying and selling income led BAC outcomes to prime expectations. This quarter: Earnings and income are anticipated to have grown by lower than 5% yr over yr, in keeping with LSEG. What to look at: Financial institution of America shares have underperformed different main banks this yr, up 6.3% in 2025. ” Traders lean bullish given YTD underperformance vs. friends, however expense development and [near term net interest income] are debate factors,” wrote Piper Sandler analyst R. Scott Siefers. “Now we have famous some concern amongst buyers that N-T NII may very well be just a little weaker than hoped, although our greatest guess is that administration will follow the FY25E information right here (i.e. +6% to 7% in 2025E and a 4Q25E NII of ~ $15.5B to $15.7B).” What historical past exhibits: Financial institution of America tops earnings expectations 80% of the time, however the inventory averages a lack of 0.7% on earnings days, in keeping with Bespoke. Johnson & Johnson is about to report earnings earlier than the market’s opening bell, with a convention name scheduled for 8:30 a.m. Final quarter: A leap in medical gadget gross sales led to JNJ beating earnings estimates. This quarter: Earnings are anticipated to have declined by almost 5%, LSEG information exhibits. What to look at: Tariffs can be prime of thoughts for J & J buyers as the corporate stories earnings, with President Donald Trump threatening final week to impose a levy of as much as 200% on imported pharmaceutical merchandise . What historical past exhibits: J & J has crushed earnings expectations each quarter since 2011, Bespoke information exhibits. Morgan Stanley is about to report the newest monetary leads to the premarket, adopted by a name with analysts and buyers at 8:30 a.m. Final quarter: MS earnings beat expectations thanks partially to a forty five% leap in fairness buying and selling income . This quarter: Analysts polled by LSEG anticipate earnings and income to extend by greater than 6% every. What to look at: Morgan Stanley’s outcomes might get a lift from the financial institution’s wealth administration enterprise, in keeping with Jefferies analyst Daniel Fannon. “MS’s [wealth management] transactional revs ought to profit from elevated fee exercise (est +30% y/y ex-DCP), with some income offset from the 1-month billing lag in WM mgmt charges that can miss out on June’s massive rally in fairness markets,” he stated. What historical past exhibits: Morgan Stanley shares common a 1% advance on earnings days, per Bespoke. Goldman Sachs is about to report earnings within the premarket, adopted by a name at 9:30 a.m. Final quarter: A increase in equities buying and selling income led to GS topping expectations . This quarter: The banking large is predicted to report a ten% enhance in earnings from the year-earlier interval, in keeping with LSEG. What to look at: Goldman shares have been on hearth this yr, up 23%. Can the funding banking behemoth’s outcomes add to that momentum? What historical past exhibits: Goldman Sachs earnings have topped earnings expectations 86% of the time, however the inventory is normally little modified on earnings days, Bespoke stated. Thursday Netflix is about to report earnings after the inventory market closes at 4:00 p.m. A name by administration with analysts and buyers is scheduled for 4:45 p.m. Final quarter: NFLX posted a big earnings beat as income grew by 13% . This quarter: Analysts anticipate a forty five% year-over-year enhance in earnings, in keeping with LSEG. What to look at: Here is what Citigroup’s Jason Bazinet needed to say final week about Netflix’s upcoming report: “We anticipate NFLX to report 2Q25 income and EBIT modestly forward of sell-side estimates pushed by FX tailwinds. Past outcomes, investor[s] … will seemingly give attention to updates to [the] agency’s ad-tier, subscriber pattern commentary and the agency’s evolving dwell content material technique.” What historical past exhibits: Bespoke information exhibits Netflix has crushed earnings expectations 82% of the time.
