Oct 13, 2026 · 39 min · 19 segments
Earnings season is underway, and investors are looking for signs that the massive AI buildout can keep supporting profit growth across tech, chips, energy, and the broader market. Mike Armstrong and…
It's a Tuesday with earnings season kicking off here, and we've got the banks who always precede everybody else kicking off with earnings this morning around, when, when did we start getting released? 7:00, 8:00 AM, uh, and then press conferences thereafter.
So we've gotten JP Morgan, Wells Fargo, Goldman Sachs, I think Citigroup also reported just a little bit later than those three.
That was shown in yesterday's market here domestically, but offset by some other tech gains that, you know, led the NASDAQ to not really get hit too hard.
And, uh, we'll have inflation prints tomorrow to digest, as well as the Fed enters, uh, last couple weeks before their next meeting and debates around what they are going to do.
And then, you know, of course, this time of year, all things election season and what's heading up with midterm elections here.
And let's dive in then to those bank earnings, Paul, which as we've talked about before, um, these banks at this point are such massive regulated conglomerates that it is frankly difficult for, for me to have any real, uh, opinion on their quarterly performance without a, you know, PhD in understanding how these things actually work.
But you can tell from high levels, you know, what are they hitting on? What are the key drivers of their business? What does that state about the larger economy? And that's what I find more interesting about these companies rather than, oh, did they, did they hit or miss on the most recent quarter? You know, what was, uh, you know, what was the change in how much they are setting aside for loan losses? I don't find that terribly interesting, but y- you do have some swings in these stocks today, and I think that's worth getting into.
So, uh, where, where do you wanna start off? Should we start off with the, uh, the best and the greatest out there with JP Morgan-
Now they have, uh, printed a really significant net interest income margin for this year.
It's a Tuesday with earnings season kicking off here, and we've got the banks who always precede everybody else kicking off with earnings this morning around, when, when did we start getting released? 7:00, 8:00 AM, uh, and then press conferences thereafter.
So we've gotten JP Morgan, Wells Fargo, Goldman Sachs, I think Citigroup also reported just a little bit later than those three.
That was shown in yesterday's market here domestically, but offset by some other tech gains that, you know, led the NASDAQ to not really get hit too hard.
And, uh, we'll have inflation prints tomorrow to digest, as well as the Fed enters, uh, last couple weeks before their next meeting and debates around what they are going to do.
And then, you know, of course, this time of year, all things election season and what's heading up with midterm elections here.
And let's dive in then to those bank earnings, Paul, which as we've talked about before, um, these banks at this point are such massive regulated conglomerates that it is frankly difficult for, for me to have any real, uh, opinion on their quarterly performance without a, you know, PhD in understanding how these things actually work.
But you can tell from high levels, you know, what are they hitting on? What are the key drivers of their business? What does that state about the larger economy? And that's what I find more interesting about these companies rather than, oh, did they, did they hit or miss on the most recent quarter? You know, what was, uh, you know, what was the change in how much they are setting aside for loan losses? I don't find that terribly interesting, but y- you do have some swings in these stocks today, and I think that's worth getting into.
So, uh, where, where do you wanna start off? Should we start off with the, uh, the best and the greatest out there with JP Morgan-
Now they have, uh, printed a really significant net interest income margin for this year.
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