Delta's Friday beat set a firm tone heading into the heaviest earnings week of the summer — adjusted EPS of $1.56 versus $1.48 expected, revenue of $17.67B, and reinstated full-year guidance of $6.50–7.50. Five major banks (JPMorgan, Wells Fargo, Citigroup, Bank of America, Goldman Sachs) report Tuesday alongside June CPI and the first day of Kevin Warsh's semi-annual monetary policy testimony to Congress — his first appearance before lawmakers as Fed Chair.
The backdrop remains unsettled. President Trump declared the US-Iran ceasefire “over” last Wednesday after Tehran struck commercial vessels transiting the Strait of Hormuz; the US answered with strikes on roughly 90 Iranian military targets. Qatar is now mediating a return to talks, with Washington wanting a public Iranian declaration that the strait is safe for commercial shipping before nuclear negotiations can resume. Oil has held in the high-$70s (Brent) rather than spiraling back toward the $100+ levels seen earlier in the war — but the risk premium is real, and this week's data and earnings could move markets independently of any Hormuz headline.
The traditional bank-earnings opener, all reporting inside the same pre-market window as June CPI. Watch net interest income, credit-quality commentary, and how much of the past month's Hormuz-driven volatility shows up in trading revenue and dealmaking timelines.
Shares are down sharply this year and slipped further last Friday on reports Netflix is weighing live TV and bundling amid slowing subscriber engagement. Goldman Sachs remains bullish into the print — subscriber and engagement trends matter more than the headline beat this quarter.
The testimony plus CPI and PPI in the same week give Congress its fullest look yet at how the new Chair weighs the Hormuz-driven oil shock against the dot-plot's hawkish flip.
Qatar-mediated talks continue, but Washington wants a public Iranian declaration that the strait is safe before nuclear talks resume. Any headline here can move oil — and rate expectations — faster than the data calendar.
JPM, WFC, C, BAC and GS all report inside the same pre-market window Tuesday — the busiest single morning of the quarter for reading the US consumer and capital-markets activity.
Results land days after SK Hynix's record $26.5B US listing. Watch for commentary on memory pricing and 2027 capex plans following Micron's $250B US investment announcement.
Thursday pairs a hard read on consumer spending with Netflix's subscriber and engagement trends — two different lenses on the same question of household resilience.
Both land amid ongoing scrutiny of managed-care margins and Medicare Advantage economics — a sector that's lagged the broader market for much of 2026.
| Ticker | Company | When | EPS Est. | Notes |
|---|---|---|---|---|
| JPM | JPMorgan Chase | Tue BMO | $5.49 | Big Five bank opener; CPI lands same morning. |
| WFC | Wells Fargo | Tue BMO | $1.74 | — |
| C | Citigroup | Tue BMO | $2.62 | Steepest YoY growth of the group (+33.7%). |
| BAC | Bank of America | Tue BMO | $1.10 | — |
| GS | Goldman Sachs | Tue BMO | $14.47 | Dividend hike to $5.00/sh pending board approval. |
| ASML | ASML Holding | Wed BMO | $7.95 | AI-capex bellwether; follows SK Hynix's blockbuster US listing. |
| JNJ | Johnson & Johnson | Wed BMO | — | Topped estimates and raised guidance last quarter. |
| MS | Morgan Stanley | Wed BMO | $2.89 | — |
| BLK | BlackRock | Wed BMO | — | — |
| TSM | Taiwan Semiconductor | Thu BMO | — | Second major AI-capex read of the week, after ASML. |
| UNH | UnitedHealth | Thu BMO | — | Managed-care margins under continued scrutiny. |
| NFLX | Netflix | Thu AMC | $0.79 | Options market pricing a ~7.3% post-earnings move. |