TLDR
- Major banks including JPMorgan Chase, Wells Fargo, and Goldman Sachs report third-quarter results starting Tuesday
- Federal shutdown now in third week delays retail sales, housing starts, jobless claims, and wholesale inflation data
- TSMC and ASML chip manufacturers scheduled to release quarterly earnings this week
- Federal Reserve Chair Jerome Powell and other Fed officials deliver speeches throughout the week
- September inflation report pushed back to October 24 due to ongoing government closure
Wall Street’s biggest banks begin reporting third-quarter earnings this week. JPMorgan Chase leads the financial sector reporting cycle on Tuesday. Wells Fargo, Goldman Sachs, BlackRock, and Citigroup will also release results the same day.
#earnings for the week of October 13, 2025https://t.co/hLn2sKQhEY$ASML $BLK $JPM $TSM $GS $FAST $C $BK $WFC $UAL $JNJ $IBKR $DPZ $JBHT $KEY $PGR $BAC $DLTR $ALLY $ERIC $INFY $MS $SLB $SCHW $SYF $STT $HOMB $HWC $CSX $KARO $ACI $BCE $TRV $ABT $AXP $CMC $EQBK $CFG $FBK $FHN… pic.twitter.com/81HjUOVbPf
— Earnings Whispers (@eWhispers) October 10, 2025
JPMorgan has beaten revenue forecasts in the first two quarters of this year. The bank’s second quarter showed declining sales and missed net interest income targets. CEO Jamie Dimon recently cautioned investors about possible economic challenges ahead.
Bank of America and Morgan Stanley report earnings on Wednesday. Charles Schwab, Bank of New York Mellon, and U.S. Bancorp have Thursday slots. American Express, Truist Financial, and State Street close the week with Friday releases.
Key Events This Week:
1. OPEC Monthly Report – Monday
2. Fed Chair Powell Speaks – Tuesday
3. NY Fed Manufacturing Index – Wednesday
4. Philly Fed Manufacturing Index – Thursday
5. NAHB Housing Market Index – Thursday
6. ~10% of S&P 500 Companies Report Earnings
The data…
— The Kobeissi Letter (@KobeissiLetter) October 12, 2025
Taiwan Semiconductor Manufacturing Company delivers its earnings report on Thursday. The world’s largest chip manufacturer grew revenue by 40% during the first half of 2025. Strong demand for AI chips drove the company’s growth.
ASML reports results on Wednesday. The Dutch chipmaking equipment supplier warned about growth concerns related to tariff issues. Trade tensions between the US and China continue to affect semiconductor stocks.
Government Shutdown Impacts Data Releases
The federal government shutdown has reached its third week. Key economic reports face delays due to the closure. Retail sales data scheduled for Thursday may not be released on time.
Initial jobless claims figures are also delayed. Housing starts information set for Friday faces postponement. The Bureau of Labor Statistics moved the September Consumer Price Index report to October 24 from its original Wednesday slot.
Wholesale inflation data remains unavailable during the shutdown. Business inventories reports are also affected. The budget dispute in Congress has prevented resolution of the closure.
Some economic information will still be published. The small business optimism index from the National Federation of Independent Business comes out Tuesday. The National Association of Home Builders releases its confidence survey on Thursday.
Fed Chair and Officials Scheduled to Speak
Federal Reserve Chair Jerome Powell gives an economic update on Tuesday. Several other Federal Reserve officials have speaking engagements planned for the week. Fed Governor Stephen Miran, Fed Vice Chair Michelle Bowman, and Fed Governor Christopher Waller will all make public remarks.
The Federal Reserve releases its Beige Book on Wednesday. The report provides an overview of economic activity across all Fed districts. Fed policymakers must analyze economic conditions with limited government data available.
President Trump announced new tariffs on Chinese goods last Friday. The administration plans to add a 100% tariff on Chinese imports starting November 1. This comes on top of the current 30% tariff rate.
Crypto markets fell sharply over the weekend. Total cryptocurrency market value dropped to $3.3 trillion on Saturday morning. Bitcoin and Ethereum recovered during Monday’s Asian trading session with Bitcoin moving back toward $116,000.
Stock futures opened higher on Monday. Investors reacted positively to weekend reports suggesting possible US-China trade talks. Bond markets remain closed Monday for the Columbus Day holiday while stock exchanges operate normally.
Oracle begins its three-day AI World conference on Monday. Salesforce starts its Dreamforce event on Tuesday.
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