This week, many major U.S. banks will post quarterly earnings. JPMorgan (JPM) will likely post spectacular profits from trading volumes.
The Financial Times reported on Sunday that it expects trading desks to report more than $40 billion in quarterly trading revenue. Goldman Sachs (GS), Morgan Stanley (MS), and Bank of America (BAC) might report revenue from trading at levels not seen in a decade. That would help Robinhood (HOOD), Futu Holdings (FUTU), and Charles Schwab (SCHW) rally.
Citigroup (C), B of A (BAC), and Wells Fargo (WFC) are also reporting results this week.
Netflix (NFLX) shares bottomed at below $80 to close at $103. After collecting a break-up fee from the Paramount Sky (PSKY) and Warner Bros Discovery (WBD) deal, expect Netflix to raise its outlook. It increased its subscription fees to pay for the $20 billion content spending budget.
Later this week, Taiwan Semiconductor (TSM), Alcoa (AA), and Pepsi (PEP) will report results. Pepsi shares are well off the $170 high for the year. The stock trades at a P/E of 26 times. That might limit any rally post-earnings. Still, consumers want to own beverage and food suppliers that have the strongest brand recognition.
Watch Coke (KO), Mondelez (MDLZ), and Procter & Gamble (PG). A rally in PEP stock might lift its share prices as well.
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