Why it matters
- Goldman Sachs earned $17.01 a share in the third quarter on revenue up 23%, JPMorgan $5.57, Citigroup $2.85 and Wells Fargo $1.87, the banks reported Tuesday.
- Before the open, Goldman traded about 3.2% higher and Citigroup and JPMorgan slightly higher, while Wells Fargo fell about 2.8%, Yahoo Finance data showed around 8:55 a.m. ET.
- Nasdaq 100 futures fell 0.7% as the chip sell-off continued, while the 10-year Treasury yield eased to about 5.19% as bonds reopened after Monday's holiday. September CPI is due Wednesday.
The day ahead: scheduled events and what forecasters expect.
Updated Oct. 13: By the close, Goldman Sachs had given up its early gain to end down 0.2%, while Wells Fargo fell 3.1%, Citigroup 5.6% and JPMorgan Chase 0.9%, Yahoo Finance data showed. The Dow fell 0.35%. See our Americas Tuesday recap.
Four big U.S. banks opened third-quarter earnings season on Tuesday, Oct. 13, with earnings per share up from a year ago at all four. Goldman Sachs shares rose about 3.2% before the bell after earnings of $17.01 a share, while Wells Fargo fell about 2.8%, according to Yahoo Finance data around 8:55 a.m. ET. Nasdaq 100 futures were down 0.71% as a global chip sell-off continued.
How did the big banks do?
Three of the four topped Nasdaq's consensus earnings forecast; JPMorgan fell short, based on the banks' releases and Nasdaq's earnings calendar.
| Bank | Q3 2026 EPS | Q3 2025 EPS | Nasdaq consensus | Revenue | Premarket move |
|---|---|---|---|---|---|
| JPMorgan Chase | $5.57 | $5.07 | $5.94 | $50.2 billion, +8% | about +0.6% |
| Goldman Sachs | $17.01 | $12.25 | $12.90 | $18.68 billion, +23% | about +3.2% |
| Wells Fargo | $1.87 | $1.66 | $1.85 | $21.87 billion, +2% | about −2.8% |
| Citigroup | $2.85 | $1.86 | $2.66 | $23.8 billion, +8% | about +0.5% |
Sources: company releases; Nasdaq earnings calendar; Yahoo Finance premarket data around 8:55 a.m. ET versus Monday's close.
JPMorgan Chase earned $15.3 billion. Excluding $658 million of net investment securities losses, it earned $15.8 billion, or $5.75 a share, the bank said. Net interest income rose 13% to $27.1 billion.
Goldman Sachs earned $5.29 billion. Investment banking fees rose 21% to $3.22 billion, and equities net revenues jumped 72% to $6.44 billion, the firm said.
Wells Fargo earned $5.95 billion. Net interest income rose 5%, but the provision for credit losses climbed 51% to $1.03 billion, the bank said.
Citigroup earned $5.2 billion. The year-ago quarter included a $726 million goodwill impairment tied to Banamex; excluding it, last year's EPS was $2.24, Citi said. Chief executive Jane Fraser said the quarter included "the best third-quarter revenue in a decade."
Where are futures before the open?
Mixed. The Dow is set to outperform, and tech is lagging.
| Market, about 8:45 a.m. ET | Level | Change |
|---|---|---|
| S&P 500 futures | 7,853.50 | −0.06% |
| Nasdaq 100 futures | 30,679.75 | −0.71% |
| Dow futures | 52,557 | +0.86% |
| 10-year Treasury yield | about 5.19% | about −0.05 point vs. Friday |
| Brent crude ($/barrel) | 104.96 | −1.58% |
| Gold futures ($/ounce) | 4,210.10 | +0.47% |
| U.S. dollar index | 102.24 | −0.34% |
Source: Yahoo Finance chart data. Changes are from Monday's settlement or close; the bond market was closed Monday.
Chip stocks remain under pressure. South Korea's Kospi sank 5.46% overnight; see our Asia Tuesday recap. In Europe, ASML and Infineon fell; see our Europe Tuesday recap. On Monday the Nasdaq lost 0.44%, as covered in our Americas Monday recap.
What else is on the calendar this week?
Fed Governor Christopher Waller took part in a discussion on AI in New Delhi early Tuesday, the Federal Reserve's calendar shows. No other Fed speeches are listed for Tuesday. Vice Chair for Supervision Michelle Bowman speaks in Bangkok on Wednesday, and Chairman Kevin Warsh holds a conversation with IMF Managing Director Kristalina Georgieva in Bangkok on Thursday.
The Bureau of Labor Statistics releases September consumer prices on Wednesday, Oct. 14, at 8:30 a.m. ET, and producer prices on Thursday at 8:30 a.m. ET. The Fed's Beige Book comes out Wednesday at 2 p.m. ET. Johnson & Johnson and UnitedHealth Group were also scheduled to report before Tuesday's open, Nasdaq's calendar shows.
Upcoming releases are on our market calendar, and live levels are on the markets page.
Follow the rest of the trading day on our global market today page, with the latest Asia, Europe and Americas session recaps.
Sources
- JPMorgan Chase, third-quarter 2026 earnings release (SEC filing)
- Goldman Sachs, third-quarter 2026 earnings results (SEC filing)
- Wells Fargo, third-quarter 2026 earnings release (SEC filing)
- Citigroup, third-quarter 2026 results press release
- Nasdaq, Earnings calendar for Oct. 13, 2026
- Federal Reserve, Calendar: October 2026
- Bureau of Labor Statistics, October 2026 release schedule
- Yahoo Finance, chart data for JPMorgan, Goldman Sachs, Wells Fargo, Citigroup, S&P 500 futures, Nasdaq 100 futures, Dow futures, 10-year Treasury yield, Brent crude, gold futures and the U.S. dollar index