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Big US banks, including Citigroup Inc, Morgan Stanley and JPMorgan Chase & Co, are set to report their earnings for the third quarter.
What are the expectations for the third quarter?
Overall, earnings for the third quarter are expected to have increased 0.9%, driven by 9.1% higher revenues. Analysts attribute this aggregate Q3 earnings growth to the strong contribution of the energy sector. Excluding the energy sector, analysts expect Q3 earnings for the remaining stock on the S&P 500 index to have declined 5.8% from a year ago. Analysts have also lowered their expectations since the start of the quarter. In aggregate, Q3 earnings views for S&P 500 companied have reduced by 6.5% since mid-June.
- Citigroup’s earnings are expected to have declined to $1.58 per share, from $2.15 per share in Q3 2021. Revenue is expected at $18.31 billion for the quarter.
- Analysts expect JPMorgan to report earnings at $2.92 per share on revenue of $32.05 billion for the quarter.
- Morgan Stanley is expected to report earnings of $1.54 per share on revenue of $268.56 billion.
Why are these earnings so important?
Amid a sharp downturn in the stock markets, driven by recession and inflation concerns, the upcoming earnings season could prove crucial for the markets. The release of better-than-expected earnings would provide assurance to investors and could bolster the stock markets.
How to trade earnings reports
The period immediately before and after the earnings releases could see some volatility. This also means that there could be interesting trading opportunities.
One way to make the most of share price moves is to trade via Share CFDs, which allow you to speculate on the future price movements of the shares without needing to own the stock. ETFs can be another way to gain exposure to stock markets.
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About us
Vantage is a global, multi-asset broker offering clients access to a nimble and powerful service for trading CFDs on Forex, Commodities, Indices, Shares.
With more than 10 years of market experience and headquartered in Sydney, Vantage now has over 1,000 staff across more than 30 global offices.
Vantage is more than a broker. It provides a trusted trading ecosystem that enables clients to achieve their own success, in a faster and simpler manner.
Empowering you to better trade on the right market opportunities. trade smarter @vantage.
