Tuesday is going to be a big day on Wall Street as the quarterly earnings season gets underway.
Before the market opens, financial heavy-hitters like Citigroup Inc. (NYSE: C), JPMorgan Chase & Co. (NYSE: JPM) and Wells Fargo & Co. (NYSE: WFC) are all scheduled to report their quarterly earnings.
This is important because banking stocks are somewhat correlated to the performance of the economy.
One thing to note: The SPDR S&P Bank ETF (NYSE: KBE) — an exchange-traded fund tracking big banks on the stock market — is down more than 36% for the year.
Other big banks are also set to report earnings next week, including:
- Goldman Sachs Group Inc. (NYSE: GS)
- Bank of America Corp. (NYSE: BAC)
- Morgan Stanley (NYSE: MS)
More Earnings
Other big companies are scheduled to report earnings this week.
PepsiCo Inc. (Nasdaq: PEP), Delta Air Lines Inc. (NYSE: DAL) and Netflix Inc. (Nasdaq: NFLX) are all on the calendar.
nCino Aims to Launch IPO
There is one initial public offering next week as cloud company nCino is set to launch on Wednesday.
The company hopes to raise more than $182 million by offering 7.6 million shares at $22 to $24 per share.
Seven banks — including Bank of America and Barclays — are underwriting the deal.
nCino creates cloud software for financial institutions, so it seems fitting that it would launch its IPO the same week banks release earnings.
It will trade on the Nasdaq under the ticker symbol “NCNO.”
Money & Markets Week Ahead: The Data Dump
Investors will keep getting a slew of new data next week.
Among the datasets of interest:
- Average weekly earnings for the last three months.
- Manufacturing output month over month.
- Imports and exports.
Money & Markets Week Ahead: Earnings Calendar
Here’s a look at who has earnings announcements this week:
PepsiCo Inc. (Nasdaq: PEP) — Monday, before the market opens.
Citigroup Inc. (NYSE: C) — Tuesday, before the market opens.
Delta Air Lines Inc. (NYSE: DAL) — Tuesday, before the market opens.
JPMorgan Chase & Co. (NYSE: JPM) — Tuesday, before the market opens.
Wells Fargo & Co. (NYSE: WFC) — Tuesday, before the market opens.
Goldman Sachs Group Inc. (NYSE: GS) — Wednesday, before the market opens.
UnitedHealth Group Inc. (NYSE: UNH) — Wednesday, before the market opens.
Bank of America Corp. (NYSE: BAC) — Thursday, before the market opens.
Domino’s Pizza Inc. (NYSE: DPZ) — Thursday, before the market opens.
Johnson & Johnson (NYSE: JNJ) — Thursday, before the market opens.
Morgan Stanley (NYSE: MS) — Thursday, before the market opens.
Netflix Inc. (Nasdaq: NFLX) — Thursday, after the market closes.
BlackRock Inc. (NYSE: BLK) — Friday, before the market opens.