Earnings
Banks and chip names headline a busy earnings week
Today’s slate is light, but tomorrow’s calendar is heavy with big banks.
Earnings season starts to matter more again next session. On July 14, JPM, BAC, C, WFC, and GS all report before the open, making Tuesday a major read on banks, trading revenue, and net interest income.
Today’s calendar is smaller but still active. FAST, FBK, UNTY, TRX, BTCY, NTRP, and LEXX are scheduled for July 13, with several names reporting after the close. That gives traders a handful of fresh checks on small-cap and specialty businesses.
The market’s tone around earnings is uneven. CNBC Earnings highlights TSMC’s 68% surge in June revenue, Delta’s upbeat airfare commentary, Levi Strauss beating estimates and raising guidance, and AeroVironment jumping on an earnings beat. But chips also take pressure, with CNBC Markets and Reuters both pointing to a weak semiconductor tape.
Watch the banks for tone, not just numbers. The setup is a higher-yield day, a hotter oil tape, and a spike in volatility. That is a very different backdrop than the one earnings season opened with, and it is exactly why tomorrow’s bank reports matter.