Q1 Earnings Kick Off With Major Banks’ Results: Bank Of America, Netflix In Focus

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Wall Street’s major averages struggled to stay higher on Friday as the core retail inflation print for March came in slightly cooler than expected, while investors continued to brace for U.S.-Iran war tensions. The March U.S. core Consumer Price Index, which excludes food and energy, came in weaker at +0.2% MoM vs. +0.3% consensus. In addition, the Consumer Sentiment Index came in lower at 47.6 for April vs. the 52.0 consensus, according to preliminary data by the University of Michigan Survey.

As the first-quarter earnings season kicks off next week, with major banks reporting their results, only a few economic data are scheduled. Existing home sales data for March will be released on Monday, with PPI data scheduled for Tuesday. Philadelphia Fed’s manufacturing numbers are due on Thursday along with the jobless claims data.

Goldman Sachs (GS), JPMorgan (JPM), Citigroup (C), Bank of America (BAC), and Netflix (NFLX) are among the companies reporting their results next week.

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Earnings spotlight: Monday: Goldman Sachs. See the full earnings calendar.

Earnings spotlight: Tuesday: JPMorgan, J&J (JNJ), Wells Fargo (WFC), Citigroup. See the full earnings calendar.

Earnings spotlight: Wednesday: ASML (ASML), Bank of America (BAC), Morgan Stanley (MS). See the full earnings calendar.

Earnings spotlight: Thursday: Taiwan Semiconductor (TSM), Netflix, PepsiCo (PEP). See the full earnings calendar.

Volatility watch: Coherent (COHR) and AMD (AMD) are set up for a volatile week of trading based on options volume. The most overbought stocks per their 14-day relative strength index include Service Mega Fortune (