Goldman Sachs Opens Earnings Season 13/04/2026

HOT stories for today

Market wrap:

• The S&P 500 edged lower Friday but still notched a strong weekly gain as investors monitored the fragile two-week ceasefire between the U.S. and Iran. The benchmark index slipped 0.11%. The Nasdaq Composite rose 0.35% by gains in semiconductor heavyweights including Nvidia and Broadcom. The Dow Jones Industrial Average fell 0.56%. President Donald Trump on Friday accused Iran of engaging in “short term extortion of the World by using International Waterways,” saying in a Truth Social post that the country’s leaders “have no cards” and are alive only to negotiate. His remarks came a day after he warned Tehran against charging fees to oil tankers passing through the Strait of Hormuz, writing that “they better not be” and, if they are, “they better stop now.” Oil prices swung throughout the session as uncertainty over the strait’s reopening continued to hang over the market.
• West Texas Intermediate crude settled down 1.33% at $96.57 a barrel, while Brent crude fell 0.75% to $95.20. Inflation remained a central focus this week as investors weighed a series of economic reports against concerns that higher energy prices linked to the Middle East conflict could feed through to the broader U.S. economy. March consumer prices came in broadly as expected, rising 0.9% from the prior month and 3.3% from a year earlier, including a 10.9% jump in energy costs tied to the conflict. Even so, the war has heightened inflation concerns. A University of Michigan survey released Friday showed consumers expect inflation to run at 4.8% over the next year, up a full percentage point from March. Attention is now turning to the start of the first-quarter earnings season. Goldman Sachs is due to report Monday, with Citigroup, Wells Fargo, JPMorgan Chase, Morgan Stanley and Bank of America scheduled later in the week.

Earnings Season Tests Fragile Market Rally

• The stock market’s rebound is set to face a key test as first-quarter earnings season begins, with investors looking for results to justify rising profit expectations and support a rally still clouded by geopolitical risks. Analysts now expect S&P 500 earnings to grow 19% in 2026, up from about 15.5% at the start of the year, helping underpin equities even as markets were shaken in March by rising oil prices and the Iran conflict. With the index nearing positive territory for the year, expectations leave little room for disappointment. The backdrop has grown more challenging as inflation remains elevated.
• Consumer prices rose 0.9% in March, pushing the annual rate to 3.3% and raising doubts about whether the Federal Reserve will be able to cut interest rates this year. Higher energy costs are also weighing on consumer spending and sentiment. Big banks, including Goldman Sachs, JPMorgan Chase, Wells Fargo, Citigroup, and Morgan Stanley, are set to kick off the reporting season. While early results have offered some encouragement, investors are likely to focus more on forward guidance as companies assess the impact of higher oil prices, softer demand and ongoing uncertainty tied to the Iran conflict. With valuations supported in part by optimistic earnings forecasts, the coming weeks may determine whether the market’s rebound has further to run.

Stocks on the move:

• ServiceNow (NOW): fell 1.5% after UBS downgraded the software company to neutral from buy, saying its confidence had weakened in the view that ServiceNow was better positioned than peers to adapt to the AI era.
• Texas Pacific Land (TPL): jumped 8.47%, rebounding after Thursday’s 15% drop following the death of Horizon Kinetics Chief Executive Officer Murray Stahl.
• Netflix (NFLX): gained 0.94% with no clear company-specific catalyst, supported instead by broader market resilience.
• Palantir (PLTR): slipped 1.86% as weak sentiment across SaaS and software shares continued to weigh on the stock.
• CoreWeave (CRWV): rose more than 4.5% after announcing a multiyear agreement with Anthropic to support the Claude model, with compute capacity tied to the deal set to come online later this year.

Watchlist: PLTR, NFLX, XOM, CRWV, META, MSFT, GS, FAST

Key Economic Events Today:

EST time

10:00 am: USD Existing Home Sales
06:20 pm: USD FOMC Member Miran Speaks


Earnings

BMC (Before Market Open): Goldman Sachs Group (GS), Fastenal Company (FAST), Sify Technologies (SIFY)

AMC (After Market Close): FB Financial Corporation (FBK), AstroNova Inc. (ALOT)


The TEFS Analyst team wishes you a successful day!