Tue prep 13 Oct: bank Q3 kicks off pre-mkt (JPM/WFC/GS/C + UNH/JNJ) as Asia chips get hit again — CPI tomorrow
Posted: Tue Oct 13, 2026 6:10 am
Morning from London. Earnings season properly starts today, and it all lands before the US cash open, so the first hour could be noisy.
Release times (consensus via Newsquawk), London / New York:
- UNH 10:55 / 05:55 — EPS ~$4.12, revenue ~$111.3B
- DPZ 11:05 / 06:05 — EPS ~$4.36
- JNJ 11:20 / 06:20 — EPS ~$2.67, revenue ~$25.4B
- JPM 11:40 / 06:40 — EPS ~$5.93, revenue ~$51.2B
- WFC 11:50 / 06:50 — EPS ~$1.85, revenue ~$22.3B
- GS 12:25 / 07:25 — EPS ~$13.07, revenue ~$16.8B
- C 13:00 / 08:00 — EPS ~$2.65, revenue ~$23.7B
Backdrop:
- US futures little changed to slightly red overnight, with Nasdaq lagging after yesterday's chip selloff (S&P -0.06%, Nasdaq -0.44%, Dow +0.38% on Monday).
- Asia had a rough night: Kospi down around 6% and below 6,000, Nikkei about -2.5%, Taiwan -2%, all on the memory/CXMT story (separate thread on that).
- Brent still above $100 (about $105) even after a ~1% dip; Houthi strikes on Riyadh keep the Middle East risk on the tape.
- Fed speakers today are Waller, Barkin and Collins. September CPI is tomorrow, which is the last CPI before the Oct 27–28 FOMC.
What I'm watching on the bank prints:
- With the KBW bank index well off its August peak, the bar is lower than the headlines suggest. Guidance on NII and deposit costs, plus IB pipeline and trading commentary from GS/C, will matter more than the EPS beat or miss.
- JPM tends to set the tone for the group. If it trades heavy after a beat, I'd be careful chasing WFC/C gaps.
- I'd let the 9:30–9:45 range form before trading any of these; I don't want to get chopped up while the calls are still running.
Sources: [Newsquawk earnings estimates](https://www.newsquawk.com/headlines/new ... jnj-jpm-gs), [AFP Asia wrap](https://www.afp.com/en/seoul-tokyo-stoc ... -tech-rout), [Investing.com futures](https://ca.investing.com/news/stock-mar ... om-4876969)
Are you trading the banks on the print, or waiting for the calls? And does anyone fade UNH's first move these days, or has guidance become too binary for that?
Release times (consensus via Newsquawk), London / New York:
- UNH 10:55 / 05:55 — EPS ~$4.12, revenue ~$111.3B
- DPZ 11:05 / 06:05 — EPS ~$4.36
- JNJ 11:20 / 06:20 — EPS ~$2.67, revenue ~$25.4B
- JPM 11:40 / 06:40 — EPS ~$5.93, revenue ~$51.2B
- WFC 11:50 / 06:50 — EPS ~$1.85, revenue ~$22.3B
- GS 12:25 / 07:25 — EPS ~$13.07, revenue ~$16.8B
- C 13:00 / 08:00 — EPS ~$2.65, revenue ~$23.7B
Backdrop:
- US futures little changed to slightly red overnight, with Nasdaq lagging after yesterday's chip selloff (S&P -0.06%, Nasdaq -0.44%, Dow +0.38% on Monday).
- Asia had a rough night: Kospi down around 6% and below 6,000, Nikkei about -2.5%, Taiwan -2%, all on the memory/CXMT story (separate thread on that).
- Brent still above $100 (about $105) even after a ~1% dip; Houthi strikes on Riyadh keep the Middle East risk on the tape.
- Fed speakers today are Waller, Barkin and Collins. September CPI is tomorrow, which is the last CPI before the Oct 27–28 FOMC.
What I'm watching on the bank prints:
- With the KBW bank index well off its August peak, the bar is lower than the headlines suggest. Guidance on NII and deposit costs, plus IB pipeline and trading commentary from GS/C, will matter more than the EPS beat or miss.
- JPM tends to set the tone for the group. If it trades heavy after a beat, I'd be careful chasing WFC/C gaps.
- I'd let the 9:30–9:45 range form before trading any of these; I don't want to get chopped up while the calls are still running.
Sources: [Newsquawk earnings estimates](https://www.newsquawk.com/headlines/new ... jnj-jpm-gs), [AFP Asia wrap](https://www.afp.com/en/seoul-tokyo-stoc ... -tech-rout), [Investing.com futures](https://ca.investing.com/news/stock-mar ... om-4876969)
Are you trading the banks on the print, or waiting for the calls? And does anyone fade UNH's first move these days, or has guidance become too binary for that?