April 6, 2026 | Daily JAM |
Wall Street earnings estimates are trending upwards on the Stand & Poor’s 500 as we head into the first quarter reporting season that begins on April 14 when JPMorgan Chase (JPM) reports its results. And they were already optimistic to begin with. You wouldn’t think there was a war going on in the Middle East. Or that President Donald Trump’s off-again, on-again tariffs hadn’t thrown business strategic plans into chaos. Or that the labor market looks to be weakening and inflation remains stubbornly high. Or that the AI sector is struggling with questions about its road to profitability and the threat its products pose to legacy software companies. This optimism does explain why in recent days while oil prices have climbed on fears of an expansion of the war inn the Middle East, stocks have inched upwards as if that wan’t a potential scenario. Here’s the earnings world as Wall Street sees it now, according to FactSet calculations.
January 17, 2026 | AAPL, CMG, Daily JAM, Jubak Picks, MCD, Morning Briefing, NVDA, WMT |
I expect more volatility as forth quarter earnings season picks up speed. Next week, despite the short week created by Monday’s Martin Luther King holiday, 157 companies are scheduled to report earnings with highlights that include Netflix (NFLX) on Tuesday; and General Electric (GE),Procter & Gamble (PG), and Intel (INTC) on Thursday.
January 10, 2026 | Daily JAM |
I expect a huge week for banks and their earnings as JPMorgan Chase (JPM) starts off the sector’s financial reports on January 13 (and begins earnings season for the fourth quarter) The six giants of US banking are expected to post their second-highest annual profit ever—$157 billion—when they report next week.
Analysts estimate the industry’s six leaders—-JPMorgan, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley—-boosted their combined annual profit 9% from a year earlier. That would touch the highest level since a wave of dealmaking and pandemic-era fiscal stimulus helped drive a record in 2021. JPMorgan’s earnings report will provide a good roadmap to revenue and earnings growth across the banking sector.
October 19, 2025 | Daily JAM, Morning Briefing |
I’d call this a week of setups for big earnings reports to come. I think this week is critical for continuing this rally, which is based right now on exceptions for strong third- and fourth-quarter earnings.
July 12, 2025 | Daily JAM, Morning Briefing |
Second-quarter earnings season kicks off Tuesday, July 15, when megabank JPMorgan Chase (JPM) reports. Analysts are expecting the bank to report earnings of $4.51 a share, up from $4.40 a share for the second quarter of 2024.
March 23, 2025 | Daily JAM |
This week I expect the March lull before the April storm.
January 4, 2025 | Daily JAM, Morning Briefing |
I expect another meandering week as the market waits on Friday’s jobs report for December and the beginning of earnings season on January 15.
October 16, 2024 | Daily JAM, Morning Briefing |
It’s still very early in third quarter earnings season, but I think we can already see a pattern.
October 6, 2024 | Daily JAM |
I expect a transition from a market dominated by speculation about the pace of interest rate cuts by the Federal Reserve to worries about earnings and the growth rate for corporate profits.
April 27, 2024 | Daily JAM |
With a Federal Reserve interest rate cut now not looking likely until December, earnings are the only game in town when it comes to supporting this market. Or moving stocks higher. So far earnings have come through with surprises running slightly above the 10-year average. But it looks like the quarter is still on a path for a very modest 3.5% growth in earnings for the Standard & Poor’s 500.
April 25, 2024 | Daily JAM, Videos |
Today’s video is NOW I’m Worried About Stocks. Investors and analysts have shown a willingness to pay for vapor in the last couple of days. The market reaction to two companies, Tesla (TSLA) and Apple (AAPL), Â has made this clear me.. Tesla’s earnings were terrible at $0.45 a share, below the expectations of $0.52 and revenue was down 50% year over year. However, the stock was up the day after earnings thanks to expert spin from CEO Elon Musk. He announced that Tesla will move ahead with the Robotaxis and full self-driving cars but it will also advance plans to produce a $25,000 car to enter the lower end of the market and compete with China. Although the company previously waffled on offering a more affordable Tesla, Musk was now suggesting it may be available at the end of 2024 or early 2025. When asked for more specifics, Musk declined to offer a definitive date on any of these promises. Wall Street ate it up and jumped on the spin that Tesla will be selling a more affordable vehicle “soon.” At this point, these are totally imaginary revenues from a car that has no release date and a full self-driving technology that doesn’t fully exist yet, and investors are saying they’re willing to pay for it? What worries me here is that in the market paying for spin has become normal because stocks go up on spin. Even if the product is “vapor,” investors are willing to get in on the stock bump associated with the announcement of imagined prospects. Similarly, Bank of America recently predicted Apple (APPL) is going to go up 36% soon because the company will announce its plans for adding AI into the iPhone. This is speculation on an announcement, not of the product itself, but on the prospect of an announcement. Bank of America is likely right on this, but I’m not willing to pay up for this speculative announcement without a tangible product or date and it concerns me that the market IS willing to do that. I understand the spins and the anticipation but the reaction and willingness to buy on vapors isn’t a sign of a healthy market.
April 12, 2024 | Daily JAM, Mid Term |
All good things come to an end. After seven straight quarters of record levels of profits from net interest income, the spread between what earns by lending and what it pays depositors to raise funds, JPMorgan Chase (JPM) reported that net interest income slightly missed analyst estimates for the first quarter. The quarter the company reported today certainly wasn’t a disaster. The bank earned $23.1 billion in net interest income in the period, up 11% from the first quarter of 2023. But the end of the beat and raise guidance of the last year and a half plus an increase in costs were enough to lead to substantial selling today, April 12. The shares finished the day down 6.47% at $182.79. Analysts and investors were clearly hoping for more.
