The earnings season on Wall Street is about to begin

The season of publication of financial results for the second quarter of 2023 by Wall Street companies begins. For the next 2-3 weeks, this will be the main or one of the main topics on the global stock markets.

We will get bank details

Today in a conventional way The season for publishing financial results on Wall Street begins. Big American banks will open it. Even before the start of Friday's US session, financial reports for Q2023 XNUMX will be published by Citigroup, JPMorgan Chase and Wells Fargo.

Forecasted bank results:

• Citigroup: $1,37 earnings per share; $19,59 billion in revenue
• JPMorgan Chase: $3,96 earnings per share; $39,15 billion in revenue
• Wells Fargo: $1,19 earnings per share; $20,15 billion in revenue

Next week, big stock exchanges such as: Bank of America, BoNY Mellon, Goldman Sachs, Lockheed Martin, Morgan Stanley (all these companies will publish their reports on Tuesday, July 18), ALCOA, Halliburton, IBM, Tesla (Wednesday), J&J, Netflix, Travelers (Thursday) and American Express (Friday).

Last weak quarter?

Markets assume that the second quarter of this year was another tough quarter for American companies. Analysts forecast that the profits of companies included in the S&P 500 index fell by 7,2 percent in this period. R/R, co would be the worst result since the "pandemic" Q2022 XNUMX. It will also be the third consecutive quarter when the profit dynamics is falling. In the first three months of 3, the decline reached 2023 percent, and in the last quarter of 2, profits fell by 2022 percent.

The good news is that this will be the last such weaker quarter. Analysts predict that already in the third quarter of this year. companies with S & P500 will record a profit increase of 0,8 percent. Y/Y, and in the fourth quarter the increase in profits will amount to 8,2 percent. Y/Y.

The results and reports from companies will be the main topic not only on Wall Street, but also on other global stock exchanges, not only today, but also next week, and partly also in the following weeks.