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Earnings Season Kicks Off With Banks, Financials

EQUITIES
  • Quarterly earnings season begins next week, with 4.5% of the S&P 500 by market cap set to report. Banks and financials start the cycle, with JPMorgan, Bank of America, Citigroup and Wells Fargo due among others
  • Earnings reach critical mass later in the quarter, with 50% of the index set to have reported by Feb 1st, making earnings releases less relevant for the index from then onwards.
  • Full calendar including timings and expectations here: https://roar-assets-auto.rbl.ms/files/50444/MNIUSE...

  • S&P 500 EPS growth has plateaued since the recovery off the pandemic lows, helping curtail expectations for the Q4 reporting season. The outperformance of value over growth in 2023 is broadly expected to persist into 2023 as global central banks retain their tightening bias and a global recession is widely predicted

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